The Bedford gazette. [volume] (Bedford, Pa.) 1805-current, 1865-02-03
From tke PaaQdeiDh,a Price C,rre,t
Oil 0nsrarions.

NrSAoeiSAos
/ The operat .ons in development Of the greater
part OF me new oil territory, which were com.
H-eneed last fall, have been suspended on account
of the extreme cold weather Of the winter and
some stockholders have lost faith in their in.
vestments because OF the failure Of the COM
panies in paying dividends as expected. The
ropening of the spring will, no doubt, witness
scene of activity hitherto entirely unsurpasS-
ed in the most exciting seasons OF the oil re-
gion.
| Some companies, however, have continued to
work in spite of the frost, and have been reward
ed with unusual success. Prominent among
these are the '0il Companies of the Clarion
River" We have hitherto alluded to the en-
ergy and activity displayed by the management
of these companies, and are pleased to announce
their success in their efforts for the development
Of their extensive territory.
The superintendent of these companies is in
the city, and furnishes some facts which will
be of great interest to parties holding stock in
these organizations, as well rs to others disi-
rous of finding a profitable investment for their
surplus funds. The Oil Companies Of the Clar-
ion River are ten in number, and are located
upon the extensive tract Of territory owned by
the original Clarion Oil Company, which COW
ers in all 800 acres Of ground within the great
oil basin.
These Ten companies are entitled as follows /:
'1ndiau," 'Black Diamond p ''Claron River"
''Highland,' Pennsylvania, Davenport, "
Little Toby River" ''Grecnland," Deer
Creek, y and s'Whltehill." Ton engines are up
on the tracts assigned to these companies, aud
operations are being successfully conducted np-
on all of them with satisfactory results. The
"Deer Creek however. is the most forward.
At this point The original owner of tue well
! struck out" while boring for saltwater, and
after trying in vain to find market for it in
Pittsburg, plugged up the well and abandoned
it. Since the excitement in oil property this
we'll has passed through several hands, zone of
whom were able 10 extract the plug driven
some distance below tho surface After the
present owners obtained possession Of the well,
operations were at once resumed, and the bore
of the we'll reamed out to double the original
size, and the pug driven before the boring tools
Instead of extracted. This we'll is now down
some four hundred and eighty feet, and within
a few days struck vein OF gas Of immense
force, blowing the water and oil out of the
we'll above the derrick with noise which was
heard for a long distance Oil in paying guam
titles is now found in this well, but it is intend
ed to sink it through the third sand rock some
100 feet further, when, in the opinion of the
practice! oil men Of the region, this well will
be one of, if not the largest, producing ,celis in
the country. All the indications of oil-gas, black
smut as it is technicly termed, and sudden
falls CT several inches in the tools, are present
here. and the tubing is upon the ground, but
tie Company have wisely concluded to continue
operations through the third sand rock.
The other companies have eaeL a well down.
to various depths, from 200 to 800 feet, and all
with the best indications of oil.
The 'Black Diamond" promises to be unu-
sually prolific, and will be pumping in a very
short time, while the Indian" and "Whitehil'
are progressing with the most Hattering pros
poets.
Probably no ten companies in the whole list
of oil companies offer more fattering induce
ments to the public as an investment than the
foregoing. They have all the prerequisites Of
success; first class territory, an energetic and
thoroughly practical superintendent honest and
judicious officers, and, what is after all the most
important plenty Of oil in their wells The op-
erations Of these Companies will ere long render
the oil region of the Clarion River as famous
as the classic groups of the history of Pero-
laum Oil Crpak