To the OP. Apparently this is a VERY uncommon occurrence, but has happened.
From: http://Earth'sci.org/processes/struct/subside/subsidence.htm
Oil & Gas
Oil and Natural gas are both fluids that can exist in the pore spaces and fractures of rock, just like water. When oil and natural gas are withdrawn from regions in the Earth near the surface, fluid pressure provided by these fluids is reduced. With a reduction in fluid pressure, the pore spaces begin to close and the sediment may start to compact resulting in subsidence of the surface.
This has occurred recently in the oil fields of southern California. For example, in the Wilmington oil field of Long Beach, California, subsidence was first recognized in 1940 due to withdrawal of oil from the subsurface. The area affected was about 50 km2. Near the center of this area, the surface subsided by up to 9 meters . In 1958 repressurization of the area was attempted by pumping fluids back into the rocks below. By 1962 further subsidence had been greatly reduced, and the area continuing to subside had been reduced to 8 km2. Still, up to this point, very little uplift had occurred to restore the area to its original elevation. This subsidence event has cost over $100 million.