Memphis daily appeal. [volume] (Memphis, Tenn.) 1847-1886, 1867-01-20
prTR0IEUM MINING DURING TIE
PAST SEASON.

The immense beiIOAtun fl'1
1866, estimated TO exceed 3,OOO,OUU OF T
rels, is rather a puzzle to croakers, the
borden of whose song has even been that
petroleum W8uld Don play out. me
tact that with a less amount of develop
mart than anv wear heretofore the pro-
ilction. in the sixth year of lis age
should more than double the amount Of
It's Weld, is well calculated TO staTtle
even the most practical. If the petrO-
leum pet in the sixth year Of its age
holds out this well, a first class
felure of oil may be expected by the
time It is Of age. Save 1ldioutei the
Stevenson, BennyhooG and portions OF
the smaller inhabitants Of Oil Creek, no
new territory, or rather new oil farms,
have been developed. None Of the Old
farms have been developed to any great
extent IN comparisOu to the amount Of
acres owned by them. Many farms OF
$40 acres have not, on an average de-
veloped over s~eventy-five acres OF the
same. What is considered thorough
development among practical men, IS a
well on each acre. The extent OF he
present VenangO oil field, not including
that below Franklin, will not probably
exceed thirty square miles. Very few
Of the farms comprised in the same have
been developed TO Is great an extent as
we have named above. The bluff or
hill territory Of the oil region has not
been developed until within the past
year. The development has as yet, save
perhaps ia a few localities, been more
Of an experimental than practical ma
ture. The experiment, so far a. II bas
o proves that the existence OF OIL IN
the hills, in a. great quantities as in the
-HH--. 10 oil Lnar aud that TLl
chances of obtaining good producing
wells, Of longer duration, and as good
quality Of oil, and equal to that of the
valleys.
This hin development will doubtless
be carried ON upon q large scale during
1867, and will supply an ample amount
Of territory for all who nave any desire
to develop new oil lands.
But we contend that no particular
necessity exists for new oil territory to
develop, for many years to come. BY
the proper management Of the old oil
farms, such as drilling q limited num-
Der of wells, the casing Of those already
drilled, and tie application of more i'm
proved machinery, the old farms can be
made to supply all the oil that viii be
wanted. We hSve no idea that Our
advice will be needed. So long as ter
TitOTy U~ndeyelOped, is within reach, il
will possess great attractions to many.
The first operations will skim the sur
face only, while those hat follow viii
reap the harvest.
The low prices that have ruled during
q greater portion of the year 1856, wiz
prove really beneficial to operators du-
ring 1867. The low prices only serve to
introduce petroleum into places and
uses, which high prices prevented.
Notwithstanding the immense amount
Of the product shipped to foreign coun-
tries during 1866, we have the best Of
reasons for asserting that the exports for
1867 viii greatly exceed it. That the
markets of Europe are far from being
glutted we have every reason to believe,
while the home consumption is increas-
ing at a prOdigious rate. Those of cur
operators who will persevere cannot help
realizing bOuntifully.-OH city Register.