Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-06-03
I8E WEEK N OIL.
There Was Nothing Of an Important
Nature to Chronicle,
The Only Thing of Much Interest
Was the Fact That the Price
Gradually Declined Fifteen Gents.
Miscellaneous OIL News.

Last week was very uneyentful On1
i'm the oil situation. There is positive
ly nothing Of Importance to report
with perhaps the exception that the
price OF the greasy fluid slumped again
and closed Saturday Is cents lower
than the week before. The drop in
price was gradual, and nothing like
the decline of some weeks ago. On
Monday the price fell from S165 to
Sl6O. ON Tuesday to SL57la; on We'd
nesday to S155, and on Friday, late in
The day, to $3.50, at which it stood Sat
rday without change. July options in
the speculative markets opened at S1.50
and went to S1.55, but weakened con-
siderably and closed at S1.51 bid. This
indicates that buyers have very little
confidence chat the Standard will in the
near future advance it's prices, not
WittsauGiug the discOuraglng reports
from all PARTS of the great producing
districts. Everybody has been watch
ng West Virginia, in the hope that
some one or more of the wildcat wells
uudcr way would unearth something
new. but not one of them has done so
recently. The only spot that con be
called new is that on which Col. J. j.
Car,er's SanchO is located. and that
well is not of such magnitude as to in
duce a general migration to il and its
vicinity. Further developments may
faf H.
-aiuly has not done so yet
Nothing of an important ma
I wre ranspired i'm any of the other
fields of the country, with perhaps the
exception of the well drilled by the
Duukard Oil Company. at Mt Norris,
Pa The reports. added and averaged.
would indicate that il started with a
production of 500 barrels A 500-bar-
rel we'll nowadays is such a rarity that
/ H. causes remark. even though il is
within the lines of previous develop
meuts and i'm q district not remarkable
/ for It's staying qualities. as this one is
/ An of the rest were of the usual calibre
is. 25. 80. or perhaps 30 barrels when
they turned ont 60 be producers at all.
I The number oil wells completed in May
ms everybody knows, was very large,
and fully one-half came i'm dry. or as
good as dry. for those not actually 80
were not good for more than 8, 4 or 5
barrels. and the vast majority Of them
was under 10 barrels.
I'm the Burning Springs field in this
State. operations are fairly active. At
The present time there are about forty
wells drilHrg, and there are number
OF rigs building. The wells in this dis
u.ct are all small producers and now
tine combined production OF ell the
wells working is only about 100 bar
rels q day.
Leonard d Cart0 have men at work
building @ rig over q we'll drilled by
them some time AGO on the Hale farm
ON Standing Stone creek. up the Little
Nan5vha. above Parkersburg. When
this wen was drilled I'm +, was aban-
Ionel or account of TT being very
small producer in the 200 foot sand.
They intend now 10 drill The wen down
TO he Big Injun with the hope OF get
Ting @ better producer. Another we'll
was drilled i'm this vicinity by the same
parties shortly after the FIRST one was
drilled bu, IL proved 10 be q dry hole.
They viii also dIiN q we'll on the
/ Foutty farm in the same territory.
a company composed principally Of
Pius5Urg people. with 3. Frost, OF