The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1896-11-28
A WEEK IN.0IL.
Developments OF Seven Days In
Southwest OIL Fields.
CREDITBALANCESi
Came Unexpectedly. and Discouraged De-
yslopmsnt In Some ssctlons-A New
Method of Increa,lng PRODUCTION Used
hythe Fisher con,piny--Ssw Work In
tho Benwood District aud Well, Drill.
ing-Goncrai News From the OH Fields.

.
by the Pish,s Con,pany-Ssy Work IN
tho Bcnwood District aud Wells Drill.
inS-Gcncrni News From the OIL Fields.
This has certainly heen one OF the most
exciting weeks In the oil business for
some time. The cause OF the excitement
has been the coming In OF some good
wells in the lower southwest, and also
the fact that tho credit balance market
took a tumble and slumped Ave cents.
The market was the first thing to attract
attention, and It started on its downward
race last week and "ept It up during tho
present week. The first decline this
week was on Monday, when the price
went down two cents Just nt the hour OF
closing tho market. On Tuesday morn
ing a few minutes after market opened
a further decline Of three cents was
marked up. and the price was down to
sL1o, where 1t had started from only O
short time before. The fact that tho
price Of the greasy stun was going down
seemed 10 have a very depressing effect.
on the operators and producers, and
some OF them who had mapped out work
gave 1t up and concluded to walt further
developments. From Tuesday up to the
closing Of the market yesterday there
was no change, and 1t Is hoped that there
will be none. !
In the matter OF wells coming In, the
one drilled on the Mcfarland by Craw-
| ford & Treat was the best Of the week,
This IL one of the best wells that has
been drilled In the southwest for q long
time and 1t CAUSED n great deal OF excite
ment when 1t was brought In, as 1t Is q
considerable distance ahead OF develop
ments at Benwood, in Monroe county,
Ohio. and Will open up q large amount OF
fine territory, which will be tested at
once. One OF the principal holders Of
territory over there Is the Fisher Oil
Company. and already 1t has made
large number Of locations, as has all
ready been stated In these columns.
There are wells starting now and loca-
t!ons being made quite q distance ahead
OF the Mcfarland well, and in very
short time they will be drilling and work
will be brisk. 1t Is now said that there
are about twenty strings OF tools rum
ming In that vicinity, and IL euch Is the
case some important wells should reach
thte sand during the coming week,
Tho latest report received from the
Stalder wells Is that on Thanksgiving
day the tools were stuck in the hole in
the morning, but; during the afternoon
they were luckily gotten out, and now
the well is drilling and will continue un-
til they have reached a depth OF fifty or
sixty feet in tho sand This well has had
more bad luck than any well ever drilled
In this field. Almost ever since the well
WAS started 1t has been having fishing
Jobs or something Of that sort, and
there was hardly day that a report
about an accident did not come from it.
1t has been a very expensive we'll for the
contractor and also for the producer and
owner, who will have lost just 50 many
days production if II should get q pay
streak in the lower part Of ths forma-
tIon. y.
All the other wells which have been
drilled in the field are holding up nicely
In production, and this field now has,
a production Of Almost 1900 barrels n
day, and perhaps more than that The
operators over there have recently got
ten on to q good scheme which they are
working with great success In this field,
and 1t IL this; " nen the wells were drill
ed in % great quantity OF saltwater waa
encountered In sonlo Of them. OF course
with large volume OF Oil and an equals
ly large amount OF water coming from
the we'll, q great many lead pipes were
used, but those did not seem to have the
desired effect, and finally the Fisher OH
Company hit on the scheme OF putting
three-inch Tubing IN the wells. This
they did on several OF their well and
putting them to pumping on u faster
stroke they had the satisfaction ofkDow-
Ing that their production was increasing
very rapidly at all the wells where's this
plan had bean put In opration. ifi
Up to the present time there have been
In the neighborhood OF fourteen wells
completed In the Benwood field, and of
this number there have been but two dry
holes reported and there is still some hop
for one OF them. The two wells which
have been reported dry are Ramey s;
Cos we'll on the Stalder farm and the
Henry OIL Co'a well on the Rumslre farm.
Both were thought to be very good ven
lures and much interest was taken in 7
thep There has been some talk about
the production Of the Hebron, field ex-
ceedlng that OF the Benwood territory,
but that Is untrue. The Benwood stun
Is dlleHu VI tllclE oiHSE NoIu CNCEdl Null-g
dred barrels, and the outlook Ia equally
as Natterlng II not more SO In the terri
tory on the Ohio side OF the river that II
Is on the side.
Among the wells drilling In tho Benz
wood territory at present Is the Henry
Oh Co.'S No. on the Holtsclaw farm;
Michael Wood No, . OF the Fisher OIL Co.,
and the same company's No, 3 on the
VIII Wood farm. Shay & McNulleN ace
having Considerable trouble with their
No, on the Tubuagh lease, and It has
not yat reached the sand; the Fisher OIL
Co.'S No, 8 on tho Cehrs farm Is drilling
at about 400 feet aud No, 9 on tho Dan
Prlca farm IL down about 1000 feet. In
addition to the wells mentioned there arc
others, the locations Of which could not
be learned Within tho next week there
will be not less than fifteen wells started.
The Fiaher OIL Company alone will start
In tho ucIEhborhood of ton Or twelve, \
and other companies are hustling eQunl-
ly as much they are,
Word was received yesterday morning
that the Groat Kanawha OIL Company
aud Frank had drilled In their No 0 on 4
thu ScballWeclier farm, nt st, Mary's,
and that It will be guod for 90 barrels o
day, ThIa well Is located considerably
ahead OF developments In that territory
and opens up quito lot Of good territory
Ii ia In tl,a ahalpw 6and as MI OF the
wells down there are, and It awells the
porduction not q little, +
'll7r -----p----t 80, -
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