Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-08-01
A BEARISH REPORT.
There Is a Marked Increase in Oil
Work for the Month of July.
THE NEW PRODUCTION COMES UP.
The Buckeye Field Also Comes to the Front
With Plenty of Oil.
QUIET IN TIE FIELDS YESTERDAY

The work for the past month in the oil
fields shows an increase all around. In new
production there is an increaseof l2sO bar
relS, and an increase of 80 completed wells
over the number reported for June. Besides
this the bearish side of the market
IS strengthened by decrease in the
number of dry holes. There is also an addl-
tion OF l3 drilling wells, but decrease of %
rigs. This is largely due to the opening of
the Mcdonald field, where rigs were thrown
UP rapidly during the latter part of June.
Notwithstanding all the drilling that is now
being done the average production OF
July wells is only l654 barrels, when IN
June was only &C. In the southwest dis
trict there are 43 more new wells being
drilled now than in June, but a decrease in
rigs. There is decrease In drilling
wells in Bradford, Alleganv, Nenango,
Clarion. Butler and Armstrong. and an in
crease OF only three in the middle fields.
Altogether, the outlook for better prices in
the PENNSYLVANIA districts Is not encouIflg-
ing. Judging from the present report me
production Is increasing, also activity, in
the fields. and as long as the situation re-
mains as ii does At present there are Few
producers who hope to get better price for
their product. In the ONO neids there
has been an increase of only one
dry hole, while the new production
was increased to the extent OF l,I4 barrels
The average production OF wells forJ uly was
- barrels. which l. greater than for any
preceding month Of the year. There were
-iA wells finished in Indiana during the
month, with a total production of 25S barrels.
Field News Yesterday.
BLEsrowN-Pueston, Holmes & Co.'S well
pu the Ewing farm is nearly through the
sand and will not make more than Is barrels
D. day. Gu1Tey, Jennings & Co.'S well on the
Mathews is doing about 35 barrels an hour.
UIrcenlec 4 ForSt on the Miller. southeast OF
the Ewing. are drilling between the Gordon
and NTH sands.
Getting Good Gas.
NcDoSALD-Gartland s Hayes on the
Miller farm northeast of the Sauters 5, of
rBc Royal Gas Company, are i'll the Gordon,
and have a strong flow OF gas. La Count
Nalalee expect to get the fifth sand tonight
IN the Snort lot The Marshall Oil Company
~eaChed the bottom OF the Gordon sand yes
erday on the smith lot and made strong
'nw of oil They are moving the boiler.
AN Kirk Il Co. got q heavy pressure of gas
the well on the hotel lot yesterday. 1t
-uilc3 and nearly resulted in a disastrous
.y. The Royal Gas Company is drilling
ar the fifth sand in the Ed. Mcdonald No.
Mcfarland Murphy have struck
nayy 1low OF gas in the hundred-foot.
The Hardy Well Dry.
TrnwooD-Black 4 Co.'S No. s. on the
ardy farm, in northeast Wildwood, is
trough the sand and dry. Greenlee &
nySt's No. 4. on the Good, will make a 100
srrel well. Their Hazlctt No. , is Is feet in
.c sand with no oil. Tic Smith Farm Oil
t rupauy's No. 1. on the Smith farm, is 30
st in the sand and 1ffcd up LOO feet with
]. Patterson x Co : well. on the Pun farm,
~ the Iourth Sanu last night and is spray
= from l5 to 20 barrels day.
Another Fair Well.
NCCURDY-Mellon & Wilson's No. 8 on the
cott farm, is in ana will make 100 barrels
av. Black. Emerson & Guffey's No l
liken Is on top Of the sand and shut down.