Marietta daily leader. (Marietta, Ohio) 1895-1906, 1896-10-16
In The OIL Fields.


PIrrsBuRe, Oct 13-In the ab3ence
Of field gossip the credit balance mar
ket took a tumble and landed in the
s1.14 hole. Those who were talking
s1.2o last month have given up the idea
that it is in sight. A rise or fall OF two
cents does not make much difference 10
the average operator for he has been
doing his best to find new territory and
has been bafaed at every turn. 1t is
becoming more apparent each day that
desirable territory is growing scarce
and the main stay of the present pro-
duction is not new wells but the daily
accumulation of the thousands OF
small ones In the upper, middle
southwest and lower southwest fields
and that EN- braces all of Pennsylvania's
producing territory, southeastern Ohio
and West Virginia--not single well
is producing more than 200 barrels a
dav, and if one was to stop and count
those that come any way near that
number, he would find them surprising
small. That is all the new pools now
in various stages of development do not
promise to furnish anything that can
be classed as gushers.
LOWER SOUTHWEST.
Out in the Sancho creek country,
TYLER county, the Carter Oil company
has drilled in its No. 8, w. T. Freeland,
and have show for nice producer
| Hosford & Co.'s No. Q on the Shinn
farm, in the Cow Run sand develop
ment, is showing for 100 barrels day.
The South Penn Oil company has
drilled in it's No. 2 on the c. Jones
farm, at Hebron, Peasants county, ana
will have paying pumper.
New developments in the Benwood
pool, in Monroe county, are awaited
with a good deal of anxiety. Holders
of territory, some distance from the
present producing wells, are watching
to see if the producing lines are likely
to come their way. 1t is said that less
than two feet of pay was found in the
wells now completed.
INDIANA STATISTICS.
George Blatchly, state geologist OF
Indiana, has been spending some time
in the oil fields of the Hoosier State
gathering data for his annual report,
which will be issued early next year,
and will relate to developments OF this
year. To reporter Mr. Blatchly gave
it as his opinion that the oil fields in
that State are yet in their infancy, and
he anticipates there will be more pro-
ducing wells drilled in the future than
the past. He thinks the Ohio and In
diana fields are connected, and are
practically one and the same. The
present inactivity he attributed to the
prevailing low price of oil, but thought
it would result in lowering the supply
and better prices would follow.
In making observations he found
1900 producing wells and 4,2O0 dry ol
abandoned after becoming proftless
He estimated the cost of drilling these
wells at $4,000, 900 for material ano
labo.,. His theory is that the oil terri
tory covers a greater area than the
gas belt, and further that when gas i:
exhausted oil will rise to take its place
AS to this origin he thinks gas and OF
were produced by intense heat in the
earth at some remote period, and thai
gas being the lighter rises first anc
| ;e fA1llunI lry ni1
Barnsdall G. Ranger will shoot thei
Berea well on Carran at Corning today
and expect to get fine producer.
Spudding commenced Wednesday OF
the Riley No. at Cutler.
The Knox and Mullen we'll on thu
Presbyterian church lot at Cairo wa
drilled through the Big Injun sane
Wednesday ard made two flows owe
the top of the derrick. The we'll makes
showing for fine producer.
The North Penn Oil Compan.
has issued a notice of the fact that
dividend of tifty-five per cent. has beel
declared on all stock, payable Octobe
18th.
The we'll struck by the company ol
the Rogerson farm, at Moundsville
last Friday evening, is said to be goo
for hundred barrels. A good streal
of gas was struck and the compan.
now has enough to supply their entir
E field