While drilling for natural gas in 1885, oil was discovered in Lima. Within two years, the Lima region became the largest known oil field in the world. Several farms near Cridersville were leased by oil companies in early 1886, and by the end of the year the village was busy with oil men. Cridersville stood at the center of what became known as the Lima Oil Field, and one well near the village was producing 20,000 barrels per year. Regional newspapers wrote about wells being drilled around the village and predicted a bright future for the town. By 1895 there were more than 125 pumping wells, new businesses had been built on Main Street, and three hotels were operating in the village. By 1906, new oil fields were discovered in Texas and Oklahoma, and the Ohio oil boom came to an end.