New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1868-01-21
THE OIL BUSINESS.
PRoDU -DEvELoPMENT-sTocK OF OIL IN
THE OIL REGION.

THE OIL REGION
From The Pittsburgh Commercial
The average daily production of the Ncnango
oil regions during the mouth OF December was about
1000 barrels notwithstanding the falling of In the Tdt
QUITE and Pithole districts The Ittusse Herald IN re-
There has been large falling of In the number OF new
wells going down IN the oil REGION ana tue whoe huuDei
low price OF oil but few new wells have been started and
for the same cause parties who own we r me ear
them completed. About onefourth OF the wells that ara
In an unilshed state nave Oeen , I'M ot h J
before next June Some eight or ten wells are located on
wild territory and about 80 other wells are on teri
tory that has as yet produced but ntie From preseh
appearances il that but about from ~ 70 70 out OF
the ls2 wells will produce oil III paying Quantities al
Willie portions Of the oil producing territory are becom
lY being found, that there Is Away
OF territory to be developed The e0lnpdIatNey new
considerable attention and near the flowing well
number Of leases have been given within week
leases immediately, and within the next three
months this territory will be subjected tOayey thorough
test AogetneI Oh opper Se1y b or over one
thousand acres Of what is now known 70 be producing
territory The wells the line between the head waters
of Bull Run and the above territory have not yet been
Between Upper Cherry Run and Plcasantyile a num-
Der OF new wells are being put down. Two OF these
wells will be completed during the coming month.
AT Tidioute the greater part OF the territory lyngte
the north and east OF the river, is being rapidly
abandoned account OF the sand rocks being thoroughly
flooded" On tie territory south and east Of the Eeono
mite tract several wells nave been tested and abandoned
during past onth Up to the time that these wells
tested II was supposed that the OIL belt ran ina
and extended indefinitely. The failure OF these wells hai
destroyed the confidence OF operators AMI but few new
wells will be started.
on Church Run, and IN the vicinity, there 10
wells going down. Several wells were completed during
the month but others were started that the numbei
going down remains the same. One OF these wells Is stu
ated about mile east of the II Is nearly down. and
third sand rocn this well over feet thickness
and is and white There have been number Of
leases given farms lying between Church Run and
East Oil Creek on territory that has not been tested
Operations will not DC commenced on several OF these
indicates that there Is belt OF oil producing sand rock
extending indefinitely TO the eastward from the run The
sand rock found the wells the run Is IN some RS
spects similar that found in the producing dstricI
Tdoute and from this circumstance contender
that sand rock Church Run Is continuation VI
that called the Iidioute sand rock
tested in the immediate vicinity Of the Hassan well, but
as yet none OF them have produced largely Leases ON
spriOg opens large amount of development may
pected unless the wells that now being drilled 10
ent time the amount OF the territory that has been deve
oped ia very small and there have been no means Of
AT Pithole there are many wells going down. and
the Of them will be completed during the sixty
to the hill territory side OF creek The
producing sandrock here has become "watered," and
marked during the past thirty days than previously
large proportion of the wells that have been tested
but very few wells being started Two three
new wells are now going down ON new territory IN the
vicinity.
on the Woods Farm near Petroleum Center, there
nine wells being drilled. Several OF these will be
In proper testing order until Spring the
son. Bennehof. and Foster Farms. which embrace tho
Woods Farm there is large amount OF development
going Sn large proportion 81 tee Re IN TINS asS
part OF the Upper McElheny Farm in the immediate vi
cinty OF the Rum that has not been watered" to any
COZ der Ia pxtp Ii
STOCK OF OIL IN THE OIL REGION.
The stock Of OIL held in the oil region the It'll inst
amounted TO $4,000 barrels This amount includes all
that is held tanks, wooden storage tanks and
shippers There has been decrease Of eiOo barrels as
compared with the stock on hand last month and de-
vember last. There has probably been no time during
the last SIX months when the stock on the producers
ton as az present and this stock is set do"hs n'e days
There has been shipped to Pittsburgh by way OF tho
bulkbarges and that stored along the Alegheny River
III wooden tanks has been nearly all moved This largo
decrease In the stock has been about made up Dy inc MI
ing tankage various points Unless there should
vance in the outside markets the stock of oil here will be
somewhat enlarged during the coming month.
The cold weather thai prevailed during part Of the
past two months has Sper S on tShS Dua
inv OF "a 500 barrels The total capacity Of iron ankage
about 10000 barrels course OF construction OF
this about 10000 barrels will be completed during thu
month. Inc CupdClt1 OF empty, Is now
O9s barrels an increase during the month Of $500
barrels.
The following amounts Of oil are In wooden storage
tanks and bulk boats at the points named Tdioute.
10 600 barrels; Tar Farm 66O0; Allegheny River from
Franklin 10 Scrub Grass, 5000 Total, coo barrels.
EMPTY TANKAGE.
The following Ia the capacity OF empty tankage tina
points named: Titusye, 80 200 barrels Miller and Shaf
Ter Farms, $500; Boyd Farm. 5000; McEheny Farm,
400 Foster Farm Pioneer Run, $780, hyde and Egbere
Farm. 9,iO0 Story Farm, 1900; Hayes Farm s,6uO W.
dcCntoek Farm, $500 Gregg's switch 100 Tarr Farm.
O00 A. Buchanan Farm, l0O0; John McCllDtock Farm.
COZ OIL City, 1920; Tidoute, $4,000 Qeopols 5000;
'ranklin, 1000. Total. 29S 900 barrels.
RECAPITULATI0N
Total amount Of oil held the Oh region In bulk boat
ron and wooden storage tanks and on the hands OF pro-
ucer Is 53i 600 barrels average daily production i0as
arrels Number of new wells drilling 1884, capacity OF
ron tanksge !sOss barrels capacity Of iron tsniass
mpV, aososs garcia