Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-11
OIL MARKET BREAKS.
THE PRODUCERS STILL sANGUINE OF
BETTER PRICES.

Several Good Wells Reported Yesterday
One at wildwood Making 100 Barrels an
Hour-The Wright Well in Southwest Nc
Curdy Causes Excitement.
Notwithstanding the removal of all
premiums and the general belief that the
speculative oil market would be revived,
the market broke yesterday from 7OH to
65H cents per barrel and this with the old
premium would make the market price
80 cents a barrel, but there were
few operators who were heard to
complain. They are still hopeful
that there will be an increase in prices.
One Of the old-time spectators when ques-
toned on the subject yesterday seemed to
voice the sentiments Of the others when he
said: "We hardly expected an increase i'm
mediately. There has not been time
enough to get certificates in circulation.
Everything like this takes time. 1t cannot
weeks, even if we have to put up with so
cent oil, and when producers commence to
ia Ike out certificates you will see a wonder
full change in the market, and it will be for
the better ut that. The present price. of
course, is not; satisfactory. When
we had this price few weeks ago
the the southwest operators were getting
the premium of Is cents q barrel which
made their product worth so cents. Where
a man is producing several hundred barrels
day 10 cents makes wonderful difference.
1t Will also seriously affect the little pro-
ducers who are paying for their property
from the output of their wells. We are all,
however, hoping against hope, and conf
IDENTITY expect to get fiuctuating market
ana better times for the trade in general"
News From the Fields.
The field reports yesterday were of the
most varied character. A rumor reached
Pittsburg last evening that Beers & McKee's
No. on the August Kyle farm, at wildwood,
since last Thursday, had tapped the
pay and was doing 80 barrels
an hour. Later this report was
run down when it was learned from authori-
tive sources that the well was doing 100 bar
rels an hour naturally. This is one of the
biggest wells ever struck in that field, and
proves conclusively that there is still oil in
the Wildwood dirtrict. 1t is located on the
the eastern limits of the Wildwood belt. 1t
is about 500 feet west of the Roth Oil Com
pany's dry hole on the Dunlap farm. Nc.
Ginnis & Co. are drilling well on the Kyle.
located about $50 feet east of the Beers &
Mckee well, which should get the sand early
next week.
Several Wells Completed.
MoCURDY-The Orion Oil Company's No.
on the Bell farm is in the sand and showing
for small producer. R. G. Gillespie & Co.'S
No. on the Jane Riddle Is finished and do
ing 100 barrels day. Mellon & Wilson's
Jane Riddle No. is in the sand and will be
good for about Is barrels a day Their No. 8
on the Dougherty farm should get the sand
about Thursday. The Forest Oil Company's
well on the Martin Cleverfarm two and one
half miles east of north and 600 line from the
Annie Adams well, is remarkably big
UnS p hoa
rig up for q well on the w. s. Phillips farm,
one half mile east of north on a 80 degree
line from the Adams well. 1t is three
Adams and Clever wells. The greatest ex-
citement was created yesterday afternoon
on Company's well on the Wright
the McCurdy field. This well has
been on top OF the sand for the last three
months and has not been doing over three
Is minutes, when it increased to nine barrels
an hour. 1t kept this speed until yesterday
afternoon, when it was drilled deeper
and increased to about Is barrels
night that it had run i up to 9oS barrels n1 an
hour, but this was incorrect. Hoffman &
Co.'s well on the Moore farm, between the
Wright and the Ewing wells of the Forest
rig of the Forest Oil Company on the
Margaret McGregor farm, 1000 feet
southwest of the Wright WELL was
burned ab,ut 10 o'clock Saturday
night. The well was down about 800 feet.
Drilling Test Well.
wnDwooD-Barnsdall, Klein & Co. are
down l 500 feet in their test well on the
Moore farm, located just north of the
Runga and northeast of the Kress farm.
In the Fourth Sand.
NoBLEsrowN-Guffey, Murphy Co.'S. well
nj l,-I<
west from the Mathews well, is drilling in
the fourth sand and expect to get the fifth
to-day. 1t is doing 20 barrels day from the
Gordon sand, and the Mathews well of
Gutfey, Jennings Co. is still making go
barrels an hSIs % m set No Bel is down
feet, and No. Heron is rigging up.
No Change at Mcdonald.
McDoNALD-wei1el & Cos. well on the
Smith lot, which has been attracting the at
tention of the operators in the field for some
time on account of its proximity to the But
Ter lot well. was drilled deeper yesterday in
dry hole. La Count & Fallilee's we'll on the
short lot is making 80 barrels an hour. The
Royal Gas CoIhpany's No. Sauters is still
OF o snce ase Their
Mary Robb well is still doing about
40 barrels an hour. Garland Hays No. l,
on tn6 Miller, Is QOlnR W Ddrr6lS an nOur.
Their No. 2 Miller and Guckert Steele's
No. on the Mevey. farm are on top of the |
Gordon. Guffey, Murphy & Co. are rigging
up on the Elliott, half n mile northeast OF
Gartland Hays No. on the Miller.
Got q Light Well.
MURDocKsvILLE-The Forest Oil Company
completed its No. on the Donaldson farm
yesterday. 1t will be l5-barrel well.
Doing Six Hundred Barrels.
CALLERY-It was reported last night that
Slagle, Lentz & Co.'S well on the Garvin
farm, which burned for several days last
week, is making 800 barrels a day from the |
loo fDOt