The museum was formed in 1987 to tell the story of oil through state of the art exhibits including talking robotic characters.

[2] The museum opened on January 10, 1990, the anniversary of the Spindletop gusher.

It is located adjacent to the Tyrrell Historical Library and the Art Museum of Southeast Texas.

The interactive exhibits "...focus on the geology, history and production of oil..."[3] The museum has several presentations about the Spindletop oil discovery and production.

Collections include a combination of items from the Spindletop Museum of Lamar University and the Western Company of North America Museum.