Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-01-01
WORK OF THE MONTH.
Figures Showing the Status of the
Petroleum Industry.
A PERIOD OF MORE IMPORTANCE
To the Great Producing Interests Can
Scarcely be Conceived.
BULLIsH REPORTS FROM THE FIELD

The incoming of the new year and the de-
parture OF the old one, without question,
had been attended with more significance
and important results tn6n any since the
discovery of petroleum. The lessons that
have been taught du-ipg this period will
ultimately form the basis upon which the
future of the petroleum trade will depend.
The innovation tha: is most likely to follow
found its conception in the organization of the
p. P. A, which manifestly proclaimed to the
producers of one OF Americas great staples the
necessity of conducting a business upon the
basis of supply and demand. The year has
been prosperous one, and has also been n1ted
for a wide range of f1uctuation in prices.
There mas been no period in the history
of the industry when the aggregate prosperity
has been so noted. The discovery OF new and
prolific Telds and the great activity of work has
been unprecedented. while the maximum pro-
duction of the year has exceeded the calcula-
tons of the most sanguine and philosophical
reasoners in the oleaginous world. 1t is also
noteworthy fact that while this state of affairs
has prevailed, the demand and consumption
have kept pace with the progress of events.
The outlook of the trade is all that could be
sssKed. and basing our conclusions from the
natural channels of the trade. new era Of
prosperity will soon dawn.
This supposltion is borne out more comDre-
hensively bv the field situation, which, without
question, presents 2 DulllSD aspect
The year several pools of the Southwest family,
have made their advent into history with
grand flourish. and have as mgloriously been
reegated 20 the past.
Wildwood without exception stands forth as
not only one of the greatest achievements of
the year. but. without question, unparalleled
IN the history of the discovery Of white sand
pools. Its production is simply phenomenal,
and it is questionable whether there has ever
been'a field discovered Of like dimensions which
has produced as many barrels of oil in the same
time. The future of this field is still problem
atical, and the possibilities of the southwest
line have been brightened by the recent advent
of the McDivItt & Co.'s well on the Guyton
farm. east of the Ringheisen.
In no portion of the southwest field has the
showing been so poor as in West Virginia.
Warrington, by the way has partially redeemed
her credit. ana has made a new production of
l.l69 barrels. This is the production OF l6
wells. while there are dry holes and !
gaser incltded in the completed list. In
the Is southwest districts there were SO
wells completed. Is dry holes leaving 81 wells
giving production of 5.427. This, as compared
with November'S report, is IA less completed
wells less dry holes and a decrease of pro-
duction of 1891 barrels The same districts
according TO December's report. has lSS wells
drilling. Y rigs. making total Of new work of
200. which is q of an increase in rigs and wells
over November. Upon the whole the report of
The southwest is decidedly bullish. while the
indications point TO a general secession of the
drill. The following are the figures of a num-
Der of the principal pools, which will be read
with interest: