In west Texas there is a famous oil field known as the Yates pool. During the depression this field was a sheep ranch, owned by a man named Yates. Mr. Yates was not able to make enough money on his ranching operation to pay the principal and interest on the mortgage, so he was in danger of losing his ranch. With little money for clothes or food, his family, like many others, had to live on a government subsidy. Day after day, as he grazed his sheep over those rolling west Texas hills, he was no doubt greatly troubled about how he would be able to pay his bills.
Then a seismographic crew from an oil company came into the area and told Mr. Yates that there might be oil on his land. They asked permission to drill a wildcat well, and he signed a lease.
At 1,115 feet they struck a huge oil reserve, giving 80,000 barrels a day. In fact, thirty years after the discovery, a government test of one of the wells showed that it still could flow 125,000 barrels of oil a day. And Mr. Yates owned it all. The day he purchased the land he received the oil and mineral rights. Yet, he was living on relief. A multimillionaire living in poverty: He did not know the oil was there. He owned it, but he did not possess it.
Many Christians today don’t realize how rich they are in Christ.