Last wooden oil derrick in U.S. to retire from daily use. Drilled Moorhead No. 1 well on Chapman-McAlvane lease, Loving County. Has bull wheels and rig irons of type not made since 1920s. However, in its day it made deep drilling possible. Pump was steam-driven until 1942, when 4-cylinder gasoline engine began to run the "Yo-Yo" wheels and walking beam. Well was put on electric pump, 1966. Given by R. O. Moorhead to city of Kermit, as a Permian Basin oil empire history exhibit, rig was moved 35 miles to this site without being dismantled. (1966)