in Eddy County in 1909, near the town of Dayton (8 mi south of Artesia). Another big oil strike happened in 1923, when Martin Yates Jr. purchased a well near Artesia, and southeastern New Mexico was said to be "gushing oil!" Drilling commenced at a furious pace and by 1938, the area's oil production was valued at $32 million annually.

In 1925, a geologist, Dr. V. H. McNutt, discovered major deposits of potash, while looking for oil east of Carlsbad. This