Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1892-09-01
IT FAVORS THE BULLS.
The Monthly Oil Report Show
Almost a General Decrease.
INCREASE IN DRILLING WELLS
Wells in the Southwest Are Shown to Have
Improved Lsrgely.
A STEM IN THE UEDERcLIFFE HOLE

The monthly oil report for August i:
slightly bullish. There is an all-around
decrease except in the matter of drilling
wells At the end of July there was de.
crease of 81 in wells drilling, while now
there is an increase of SO. This is almost
offset again by the number OF new rigs,
which has changed from an increase OF on
July 81 to q decrease of % on August 81
The average of productive wells has
dropped from 70 in July to 7l1a barrels in
August In July the new production was
10, ,O69 barrels, while the month just closed
can only show 7 $50 barrels, a decline of 8. 210
All but ten barrels of this decrease can be
accounted for in the Butler and the south
west.
Last month the figures for July we're just
about reversed, as in July there was an in
crease in everything except drilling wells,
and now there is decrease to report IN
every department except in drilling wells.
There WAS the greatest falling OIL IN produc-
tion in the wells of the Butler district In
August the average of the productive wells
was only 291s barrels. while IN July 1t was
almost double those figures, or 5513 barrels.
There was only one less well completed in
August vet the new production dropped
from l.278 in July to GAS in August me big
July showing was largely due, however to
the big well which Thomas w. Phllllps
brought in during that mouth.
There was little or no change in the num-
Der or size of the upper country wells In
the Allegheny and Bradford, the miadle
were "a wells completed in August with
total production OF 93 barrels q day, while in
July there were 25 wells finished up with an
aggregate output OF lob barrels day, d1f-
ference of only in the number of wells,
and 10 barrels in production.
The Southwest Showing Strong.
Although there has been a decrease of Ss,
or from l31 to 93 in the number of produc-
tive wells completed in the southwest dis
triot they have proven to be much better
wells as a whole than in July. The decline
in new production has been /, ,567 barrels, or
the average daily output of the new wells
has increased from 661a in July to 761a in Au-
gust.
The dry holes reported in the southwest
in July ran up to 81, while in August only l6
were barren. Taken altogether this is ia
vorable showing Tor the Southwest territory.
The Sistersville field has been an import
ant factor in southwest work. and has led
Mcdonald in almost everything save pro-
duction.
The outlook for new work during the
coming month is first-class. Notwfthstand-
ing that the Mcdonald pool has been about
corralled, the Forest Oil Company's strike
on the Gregg farm promises to cause many
new wells to be put down south of the old
McCurdy pool.
Patterson & sohn's lucky venture near
Undercliffe will lead to q lot of new drilling
in that locality, and down at Sistersville two
firms alone have started over 90 rigs. There
are at present 80 more strings of tools run
ming than at the end of July, and in the
southwest there has been an increase OF A
over the month of July.
There is however, a slight decrease in
rigs. but there is total increase of II in
drilling wells and rigs combined
Judging from the present outlook there will
be much larger increase in tine number of
drilling wells and rigs when the reports are
completed on September 30.