After World War I, a new oilman appeared on the scene - Frank Yount of the Yount-Lee Oil Company. In 1922, the company brought in the first great flank well on the Texas Gulf coast in the Hull field. The company made huge profits over the next several years. Yount believed that there was much more oil at Spindletop, if flank wells could be drilled deep enough. He was right, and the McFaddin No. 2 began to produce oil at 2518 feet on November 13, 1925. That evening, Magnolia's radio station announced the discovery, and the second Spindletop boom began. Soon the Hill was ringed with wells, but the lawless atmosphere that had characterized the first boom was not repeated. Nearly 60 million barrels were produced during the next five years, almost all by the Yount-Lee company. Over 10,000 men found employment in the oil field, and the economy of southeast Texas flourished until the Great Depression hit hard in the early 1930s. The result was hard times.

After the second boom ended, Spindletop produced only small amounts of oil, but in the early 1950s, the Texas Gulf Sulfur Company built a twelve-million-dollar plant to extract another mineral - sulfur - and drilled the necessary wells. This operation would soon cause the Hill to subside. Today, the glory days of Spindletop are long since gone. The site looks like a wasteland, and only a few oil wells continue to operate, very slowly.