Oilman Ira Yates and two partners struck oil here in 1926. The field included Yates Well 30-A, the world’s largest gusher, producing 200,000 barrels of oil a day. Yates developed a town to accommodate the people who flooded in to work in the new field. A contest was held to name the town: the winner combined Ira’s first name with that of his wife, Ann, to form Iraan (pronounced Ira-Ann).
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