derrick Meaning, Definition & Usage

  1. noun a framework erected over an oil well to allow drill tubes to be raised and lowered
  2. noun a simple crane having lifting tackle slung from a boom

WordNet

Der"rick noun
Etymology
Orig., a gallows, from a hangman named Derrick. The name is of Dutch origin; D. Diederik, Dierryk, prop. meaning, chief of the people; cf. AS. peódric, E. Theodoric, G. Dietrich. See Dutch, and Rich.
Definitions
  1. A mast, spar, or tall frame, supported at the top by stays or guys, with suitable tackle for hoisting heavy weights, as stones in building.

Webster 1913