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About Iraan, TX Iraan was an oil boom town, and developed quickly after the discovery of the gigantic Yates Oil Field, which is adjacent to the town on the southwest. The oil field was discovered in 1926, and the first buildings in town were basic housing and infrastructure for workers on the field, all built by the Big Lake Oil Company which became Plymouth Oil Company, which was purchased by the Ohio Oil Company, then purchased by Marathon Oil Company, and owned today by Kinder Morgan. By 1927, the town included a school, and the post office appeared in 1928. The population of the town in 1930 was about 1,600. About 3 mi (5 km) south of Iraan was the oil boomtown of Redbarn, which appeared almost immediately after discovery of the oil field, before Iraan itself.
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