The derrick, located east of the depot on Commerce Street, is dedicated to Oscar Melvin Jeter (1878-1945) and Myra Stephens Jeter (1882-1972). They were a pioneer East Texas family who married in 1909 and operated a general store at 204 Commerce Street in Kilgore for 20 years, from 1915-1935. The dedication is made by their children Louise, John, Martha, Carl, Wayne, Jack and Melven: and their grandchildren J.T., Jim, Theresa, Bob, Don, Jack, Jayne, Carl Jr., Lynelle, Carla, Myra, James, Sheryl, Marlene, Kenny and Louise.

The site was provided by Union Pacific Railroad and the derrick by Texaco, Inc., Caddo Field, Louisiana.