123 Years Ago
In 1902, the front range (and Golden along with it) was in the throes of oil fever. Oil had been discovered the previous year in the Boulder area, and people were optimistic that more would be forthcoming. Oil speculators frantically sought investors to help fund oil exploration, and Golden residents were excited at the prospect of oil-borne prosperity.
Several wells were sunk in the Golden area, including one in Golden Gate Canyon, another on the Churches Ranch, just north of North Table Mountain, one on the Welch Ranch (approximate area of Colorado Mills Mall), one on the east side of North Table Mountain, one near the Church Brick Yards (west of 93, north of Golden Gate Canyon Road), and one two miles east of Golden on the Middle Golden Road (32nd Street).
By the end of the year, hope was fading for the Golden-area wells.
We have now waited since March to witness the apotheosis (that’s what we call it) of the Golden Basin Oil Co.; not one thimbleful of oil…has been struck.
Colorado Transcript, October 8, 1902
Oil frenzy flared a few more times after that, but by about 1905 the dreams of Golden as an oil town had faded away.
