Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-11
FEELING OF UNEASINESS.
REASONS GIVEN FOR THE DECLINE OF
PETROLEUM.


Rush for Territory-Reports From the
Various Fields.
The recent decline in the oil market has
created feeling of uneasiness and distrust
among the producers, and to them it fore
shadows gloomy outlook for the future.
Some ascribe the depression to the Standard
Oil Company, who. they assert, is getting
even with them for their support in the
election of Mr.. Pattison to the Guberna-
torial chair. Others take different view of
the cause and effect, but all agree that there
is something wrong, and are looking about
for remedy. Yesterday the situation was
freely discussed by the producers, and in oil
circles was the principal theme of
conversation. Mr.. George H. TORY,
prominent producer, of Oil City,
was seen at the Hotel Schlosser
and In an interview delivered himself in the
following manner: II think that the producers
are largely to blame for the present depressed
prices the rush for good territory since the shut
down movement has been unprecedented in
the history OF the petroleum industry, and as
result the production has been increased from
4S,OOO barrels at that time to practically 92 900
barrels day at present. When the fact is
considered that this increase is almost wholly
from white sand territory it is truly
marvellous state of affairs 1 have heard
oil producers who have been in the business
from the time of the old Sringpole days on his
toric Oil creek say that it was impossible to in
crease the production, ano yet the figures con-
clusively show that the production has in
creased 81, 900 barrels from this character of
territory in about two years. With the present
production of 81, 600 wells in Pennsylvania, New
York and West Virginia, and only from 10000
to Il, ,00U barrels of inflated production from
such districts as Wildwood, Belmont and other
impromptu pools, how can reason
ably expect decline of production dur
inflated output. To look ahead another
year with the start of 5000 or $1,000 barrels,
which we will undoubtedly have with the ad-
vent OF spring, l am of the opinion that we
may reasonably expect production to approx
mate 100, LOO barrels a day for the next year,
provided that the prices are sufficiently high to
enable the producer to make a monkey of him.
self. 1t is high time that the producers con-
suit their own interests, call halt, look the
situation squarely in the face, and deal with
facts as they find them. 1t is simply folly
to assert that with the defining of the present
prolific pools that there is no more territory to
operate. Experience has taught US that this
old stereotyped story has led US into many
ing sands which are known to exist. will be-
come an important factor in keeping up pro-
duction. To correct the present state of affairs
there is but one way, and that is 10 curtail new
work and give the drill a rest. If / am cor
rectly informed the disposition of the Standard
and its allies is to shut down the drill as far
as surrounding circumstances will permit We
are getting too much oil, and there is no use
denying the fact, and the sooner the producer
realizes the true situation the better 1t will be
for his bank account"
WILDwooD-Guff- & Queen and the Forest
Oil Company's Governor Pattison well on the
Rolshouse, according to an hours gauge to-
night was producing at the rate of l3415 barrels
an hour. Griffith and the Forest Oil Com
pany's Ringheisen well is holding up at 80 bar
rels an hour. while their No. Whitesell made
three feet and four inches in 10 hours from the
first pay. The Roth Oil Company's No. bar
bush will most likely find the sand tomorrow
and their No. should reach sand by Thursday
or Friday. byrne Company's No. Simpson
is reported as doing 400 barrels a day. Greenler
Forst will in all probability tap the sand in
No. Rolshouse tomorrow.
BUTLER-There is considerable comment and
speculation among producers concerning the
recent strike of Wahl & Bishop on the Jacob
Dambach farm, four miles southeast from
Evans City. 1t is the most important we'll in
Butler county, owing to the extent of new terri
tory the well has apparently opened up. As
yet there is no way to arrive at the caliber of
the well, as 1t was drilled wet and the well is
flowing oil and water together on the ground.
The rig which was destroyed by fire was COM
pleted tonight and in a few days the well will
be cased and put in order, when its true
status will be known. The strike has slim
ulated new work in this vicinity.
Gnckert & Steele, who have over 1000 acres in
this section. located well to-day on the adjoin-
ing farm from the well. and will commence work
at once. There is nothing particularly new to
report from the Rough Run well. An operator
said to THE DISPATCH scout that he visited
the well Saturday. which is drilling in open sand
hut slightly off color. The sand was struck at
l692 feet. which he thinks is the regular But
Ter county third.
OAKDALE-Patterson & Co.'s well, on the
Mcfarland farm, about three miles northeast
from Oakdale station, on the Panhandle Rail-
road, is being watched with interest They
have been fishing for set of tools since the
lst of last January, and Saturday had the good
luck to clear the hole; the we'll is l, 700 feet
deep. and is a wildcat
BELMoNT-The Brow. Oil Company have
drilled in their No. Jones, which is doing 400
barrels day. and is the best well in the field;
this rate of production, however, will not hold
up long. The ST. Mary's well put ten inches in
go tank during the past "a hours; they are
still drilling. H. Nc.