Sabine River Off Shore Wells. The vast East Texas oilfield was discovered in October 1930, and wells were soon located across the field in five Texas counties. Drilling was expanded to include the Sabine River bed, which was owned by the state of Texas, in late summer 1932. The riverbed was divided into tracts and leased to drilling companies. The first well was drilled by the U-Tex Oil Company, which was made up of investors from Texas and Utah. The well was drilled to a depth of 3,466 feet and continues to produce today. The derricks that remain in the Sabine River near this site are the last standing of the approximately 200 wells drilled in the riverbed, and are a testament to the engineering ingenuity of an important Texas industry. #16564