High Quality Content by WIKIPEDIA articles! The Yount-Lee Oil Company, founded in 1914, was the successor to the Yount-Rothwell Oil Company which had been formed earlier by Miles Franklin Yount and Talbot Frederick Rothwell. Yount headed up the new enterprise and counted among his partners Thomas Peter Lee, William Ellsworth Lee, Emerson Francis Woodward, Talbot Frederick Rothwell, John Henry Phelan, Beeman Ewell Strong, Frank E. Thomas, and Maximilian Theodore Schlicher. With a new fusion of capital provided by T. P. Lee, Yount was confident that the Spindletop oil field had not been tapped out, so he set about acquiring large tracts of land in the area. On November 14, 1925, his McFaddin No. 2 well struck oil at about 2,500 feet, sparking a second Spindletop oil boom.