The Petroleum Centre daily record. [volume] (Petroleum Center, Pa.) 1868-1873, 1872-06-27
THE EBB OF THE TIDE.

which Psrker's Landing is the nearest cer-
tre, has caused an almost total suspension
Of extensive developments In that portion
Of the Oil Region surrounding and above
Oil City.
History repeats itself with alarming fire.
quency in Petroleum development. This
history Of every oil field is the same From
one to two years the wild excitement 10 q
new oil field continues, and then, after bury
ing your dead, and doing the best he can
Tor the wounded, the oil operator weuds his
way back TO the oil fields sgain, with light
purse, but ample stock of dea.ly bought exs
perience. And yet be profits by this exper~
fence no longer than he can recruit bis
wasted means, aud hears of new field
Then of he goes again. and after varied
fortunes, almost invariably comes ont Of the
fight more or less worsted. Within o very
short time this surging tide, that has taken
so many millions Of dollars from the upper
to the lower oil country, will roll back
again, nd in fact the backward movement
is already taking place.
Thoughtful operators, wearied with the
certain uncer tainties Of "wild eating" 10
the Parker and adjacent oil fields. have for
some time been turning their attention to
the seemingly exhausted territory of the
valley Of Oil Creek and vicinity. The re-
cults arrived at by their experiments have
been as usual, star Ting. The old Empire
we'll, oce OF lthe old time leviathans, is be-
Jog pumped, and gives forth handsome
yield, and new wells drilled in the immed-
late vicinity, give promise of au excellent
production. The same result has been
proved at the Noble and Sherman wells
Thousands Of acres of virgin territory, CON-
prising the hills that line the valley Of Oil
Creek, are now as favorable for oil produc-
tion as any territory known.
The 'third sand" in this upper oil coun-
try is reached at s::depsh scarcely ever ex-
ceeding 800 to $50 feet, aud the total cost
of drilling the wells averages from $4,000 TO
$4,000, according to the locality. Iu the
lower oil field, wells have to be drilled TO q
depth Of from 1000 to l,4oO feet, and cost
on average fully $4,000. The cost and
difficulty Of drilling doubles very fast after
the depth Of 500 feet is reached, as every
| operator knows to bis sorrow. This is one
aivao tage in favor Of the upper oil field,
and there ore many others. Below there
are no competing railroads, aud consequent.
y no competing buyers, Hence prices rule
full twenty five V thirty per cent. lower.
The new oil n.lds have now been we'll de.
fined, and dry holes aro becoming uncom-
fortsblv frequent. We are pleased to note
the fact of the turning of the tide that will
again render the bills aud valleys of Oil
Greek and vicinity worthy Of the fame en-
joyed in former years. We shall again see:a
good time for Oil City within the next six
months. All the lands adjacent TO our
creek are being secured regardless of price,
and leases are eagerly sought for. The i'm
po ortance Of this change Of base 10 the busi-
ness men of this vicinity cannot be estimat-
ed. Let the good work be encouraged by
oil means. Keep the tide rolling this way.
For an oil operator 10 think Of developing
the lower oil fslds, when 60 rich prospect
is open before him at the very portals Of the
main outlet of the Petroleum Region. Oh
City. eeems as great folly, as that Of the
horse that swan the river to get drink
Let us grasp the substance aud let tb @
shadow go.-tOll City Register
The Registers article Is just to the point.
History does and has repeated itself 10 the
valley Of Oil Creek. The old territory
around Petroleum Centre is again being
made to produce oil largely. To be su,e all
the capital, or nearly all, at present In use in
the, e,downlriver territory istemporarily drawn
from the Oil Creek region, but already indi
cations can be plainly noticed among well
informed operators Of the decay OF the
hopes OF those who left here 10 seek "greene,
fields aud pastures new" They are gradu-
ally working their way back to the old and
fruitful oil fields ofOil Greek, thinner 10
purse probably, but yet not discouraged
We have full faith In the oil territory here
sbouts, and welcome back to our midst the
operators who left for tie lower country in
tending to get rich too quick, but contrary to
expectations failing in many instances.