The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-09-11
PREPARING FOR THE OIL
KEYSTONE CO. WITH 5000 ACRES
LEASED, MEETS TO-MORROw.
Hard to Keep the Fluid Down in DIR.
Lights WeII-A Hundred-Bar-
rel Daily Flow.

The stockholders of the keystone Oil
Company will meet tomorrow night in
Rooms 301 and 302 Lemcke Building, to dis
cuss their business affairs in relation to
the find of oil at Broad Ripple. This COM
pany has about 5000 acres of land under
lease, which includes land in all directions
from the well that is flowing oil on
land leased by DIR. Light. The wells that
have been sunk thus far have been put
down for the purpose of prospecting and
accurately locating the field, and, of course,
to bring such revenue as they will. The
first well was put down about two miles
west of Broad Ripple and developed fine
flow of gas. Mr.. Mcknight an oil and gas
expert of Pittsburg, who has been here
looking over the field, has always ex-
pressed his firm conviction that oil would
be found, and was not the least daunted
when gas came from the first we'll. He
said where there is gas there is always
OIL but the high pressure of gas in the
first we'll at Broad Ripple was too much
to allow oil to flow. The company then
put down another we'll about one and q
half miles east of the first one for the pur-
pose of seeing how extensive the territory
is. This well also proved to be a gas gush-
er, with u pressure OF 300 POUNDS. Under
the direction of Mr.. Mcknight. the third
well was located about one ana a nan
miles from each of the others, forming the
third and southern point of an equllateral
triangle. This well was a disappointment !;
it simply q dry hole. The quality OF
the Trenton rock borings that came from
the bottom was closely examined and 1t
was found to be almost solid, with no
pores in which gas oil could circulate.
This accounted for the wells dryness; the
rock was too solid. half mile or more
and it proved to be the long-sought oil
we'll and is now flowing about nifty barrels
Is oil and gas In paying qnantltles clps ,s
to this city. This well belongs to DIR.
Light and his associates.
At it's meeting the Keystone company
will take some action for expanding its
work and putting it's product on the mar
ket.
The present indications are that the new
oil well will prove to be one of the best in
the State, if not the best. Foreman Fry,
who put 1t in SAYS the pressure indicates
that it will flow almost, II not more, than
one hundred barrels a day. Yesterday art
in New York. to get Instructions to put in
the tubing, but had heard nothing late
yesterday afternoon. At present the well
is covered with a weight of 1.S0o pounds
and this is not sufficient to entirely retain
the oil. Every few moments the oil forces
Wednesday night the we'll broke loose and
the result is that the entire vicinity is
covered With oil and many farmers haXe
to use for lubricating oil. A quantity has
also been sent. off to be analysed.
the we'll has been leased, but still the OIL
men are coming and they are making
every effort to secure leases on certain
| farms which are still controlled by their
owners These farmers have some land
Immediately south of the oil well and they
| have agreed among themselves that they
| will not sell or lease their land but will
await developments and then, if the find
| proves a good one. will develop their. own
| land
Many of the Pennsylvania oil men say
| the well does not amount to much, but
m N~xya NnlatnS
| simply an old dodge to secure leases. These
| same men made anxious inquiries about
| land that is not yet leased and then started
| off Immediately to make an effort to get