Beverly Hills Oil Field
OK, so when most people think of Beverly Hills, they picture the rich and famous, palm trees for miles and lots of very expensive shopping. But did they picture oil? Yes, oil. In fact, there is an active oil field underneath a portion of Beverly Hills and a derrick ON the high school property. You would think that an area with so many riches couldn’t get richer, but it apparently can – Texas Style.
Discovered in 1900, this field has produced over 150 million barrels of oil. Compared to some (the largest in the world has produced over 70 BILLION barrels of oil since the 1950’s) it is a small oil field but yet an important one. Not only is a derrick (which you can see on one of our many tours) on the property of a high school, but it is also an income source for the residents. Since many home owners in Beverly Hills ALSO own mineral rights to their properties, they are guaranteed royalty payments for the oil. Talk about hot property.
While there are 4 drilling sites for this field, the most recognizable one is on the property of Beverly Hills High School. The school receives roughly $300,000 in royalty payments a YEAR for this derrick. Bet the PTA is happy about that no brainer fund raising. It is also the most decorated derrick in the world. It is painted on each side to represent the 4 seasons. It more looks like something from the 70’s and now that it is a bit weathered some call it a sore thumb. But we will leave that determination up to you.