Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-11-24
The OIL SITUATION.
LOW PRICES AND BAD ROADS ARE HAV.
ING AN EFFECT.

Many Indications, However, Point to a
Better Market in the Near Future-The
Latest Reports From the Various
Fields.
The past week has to some extent been
favorable TO the producers and bull element
of the trade. There has nothing of import
ance transpired in this section of the field,
and the present indications are encouraging
for a better market The inflated reports
from the 10O-foot district during the week
had tendency to produce depression, but
in no instance have the wild rumors ma
terialized into reality. Guekert & Steele's
No. Humphrey so far has turned out a
bugbear, while the Jacob Dambach well
has been overestimated, both as TO
production and its importance upon new de-
velopments. The Rough Run well is scarcely
heard OF any more, while the Jefferson Center
OH Company's No. dry hole on the Konrumpf
tract and Hartman q Sons duster on the
Byrely farm both of which are located in the
Saxonburg field near the former company's big
well, has somewhat dimmed the future pros
poets of this pool presented with the advent of
the famous gusher. The low price of oil. to-
gether with the deplorable condition of the
roads, is to considerable extent curtailing
operations. The production is also declining,
and, upon the whole, Butler county will In all
probability present bulfsh report on the first
of the month.
From an impartial view, as Wildwood now
appears, it would but be natural to conclude
that this pool had reached its zenith. To this
conclusion there is one bjection offered and
that is the possibility of further extension to
the southwest of prolific territory. AS pre-
viously noted in THE DISPATCH, the big wells
in this section steadily declining, and
within the last As hours have a decided drop
off. Gufy & Queene and the Forest Oil Com
pany No. = Rolsehouse 80 acres is from IA to
in fhn md ann HHrba IL rill nT0-
duces AZ inches or about IL barrels an hour.
Jennings & Co. No. 3 Kretzer, at 20 feet in the
sand, found a small showing of oil, and shut
down to move out the boiler, and tomorrow
the well will be drilled in. The Kan
awha Oil Company's Vogel farm well
IS drilling in the sand between
10 and 80 feet. with no further improvement
from our last report: it is showing for from 10
to a 2o-barrel v u. The Keifer well is said to
be in the sand, with light showing of gas and
oil, and is again shut down. ANN, Jennings
Co. did not get their No. 5 Harbush in Satur-
day. as was expected, but will do SO Monday.
Patterson and the Forest will also get the first
pay tomorrow in their Young No. 2
The Mellon we'll, on the Scott farm, at Mans
field, will not have a demorallzng effect upon
the markets, unless 1t improves greatly with
deeper drilling. The well is about II feet
deeper in the sand from where the first
oil was struck, and is making about
100 barrels a day The McCurdy is still
doing 400 barrels day. The Fisher well, in the
Bridgeville field, is not showing up very well.
Ihere Is light show OF black oil in the hole,
and at present indications for well are not first
class. The Hickman well, in the same locality
has been tubed, and will be pumped: the venture
looks like 20 or 3O-barrel well. The expert
ment well belonging to Gutfy Queene. To-
Gated 81 miles north of Shapsburg, is reported
in the sand, but the information on this point
is meager and not safe TO gamble on. The pro-
rrietors Just at this critical stage of the game
are not seeking newspaper notoriety. and pro-
pose to know first what they have got before
the snap is gwen away. The impression left
however, in discussing the new venture with
those who are connected with il is that it is
thought the third sand is no good. This fact
to other operators seems to convey altogether
different story. H. Nc