The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-04-03
I0!L0P.ERAT!ONS..
aroatoat Revival OF Development
In Twenty Yonrs.
THE OUTLOOK IN west VIRGINIA,
Western Pennsylvania anti Ohlo.
frloc Goes Ur and bids Fair to 90
Even llicliororho, Standard nuy.
insnpallv Visible OH Propcrty--pros.
p'ctIng for Now Fiolds-produotlon
lar behind Consumption.

PRdddphid Frg. ~
Not Tor twcnty years has thoro taken
place such n sudden and general revival
Of oil operations rs the past six month.
have Witnessed throughout Western
penn'ylvania, Ohio and Wost Virginia.
Oil property has doubled In yaluo In
that time, aud oil prices havo jumped
aud bid fair to 20 still higher. In somo
places tho fevorlsh search for tho oloa.
cinous product hns been so grea. rs to
recall tho old days, When Oil City vas a
Mecca for those who sought to win
great fortunes in dry.
In tho past two years tho stock Of oil
has fallen of from 100000 barrels to
about 100000 barrels. Tho monthly
reports for april l will show abnu, tho
latter amount TO DO on hand. At pros.
ont oil production is from 100000 10
100000 barrels a month bohin,l con.
sumption, so that II Is plain that ut tho
present rate, II no now big oil strikes
arc made, 1t Is only n question OF timc
until tho stock on hand is consumed.
Tho Standard Oil Company, anticipat.
ing tho present condition, has recently
redoubled Its usual efforts to buy out
independent producers. It has been
buying up everything OF valuo that has
been placed on tho market, and in two
montha paat Ia said to have expended
almost s., 000. 900 for oil rights In Pom.
sylvania and West Virginia. In tho
past four week, tho Standard has 40.
cured what ia virtually complete con.
troll OF tho Butler oil fold in Pennsyl.
vania. 1t has also bought out large
company which had been doing bust.
ness in. the SistersyilIe, W. Va, field,
the purchase price being $3.50, 1000. And
still the cry goes up for more new wells,
and thousands Of dollars arc being OK.
pended daily in "wildcatting," that Is,
prospecting for now oil territory. Up
to dato prospectors have lost heavily,
Tor no discoverie, OF noto have been
made. and work has been begun on tho
redrillins OF tho old fields.
SEEKING NEW, FIELDS.
The original Pennsylvania fold, from
it, northern limit in Mexican county
to tho southern boundary below Butler
and Gallery Junction, Is being carefully
CONC over and now wells are boinr nut
down in the hopo that something else
than "dusters" may be found. Thus far
there have been no strikes OF conse.
quence. The old Pennsylvania field has
fallen behind in tho matter OF produce
ton, and the leading oil field OF the
United States now in the Sistersville
district in West Virginia. 1t was dis
covered two years ago and has been de.
reloped alnce and appears to DO in its
zenith at present. Tho Mcdonald and
Wildwood fields near Pittsburgh have
fallen away greatly in production, and
are considered among tho lesser lights
in oil circles. They still produce oil, but
in no such quantities as they did ono or
two years ago.
A large amount OF the prospecting 90.
ing on IS IN the interior OF Yves. Vir.
GINA, where some oil experts believe
there is still much good territory to DO
found. There is no doub. that signs OF
oil arc plentiful in many OF tho noun
tain districts OF that rocky state. Since
the Sistersville field was opened thcre
has boon no territory Of any. size dis.
covered. What will be- the reault il no
large strikes arc made soon is difficult
TO conjecture, but it seems certain that
oil prices will continue to advance for
some months at least. It is said bv oil
men that tho Baku fields in Russia are
playing out, and this is m additional
cause for the belief in further increases
in oil prices.
PROPERTY VALUES INCREASE.
Tho increaao in tho Yalua OF oil nrnn.