The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1896-08-29
THE INDIANA OIL FIELDS
THE STANDARD TRYING TO FREEZE
OUT HOOsIER OPERATORS.
Reduction of Prices Causes a Notable
Falling on in the Numbe of
Wells Finished in august.
srecial to The Inaianapolis journal.

Special to the indianapolis Journal.
MONTPELIER, Ind, Aug. 2s.-Opera-
tions are quieting down to some extent in
the Indiana oil field. but this will not con-
tinue for any great length of time, as
the completion of the proposed pipe line
will advance the price and cause 4 fight
between the Standard and the new line. A
close survey OF the work now under way
lows that the Standard. or the Ohio Oil
Company, is doing over half of 1t. 1t is
said that the big concern wants the OPP
orators to stop the drill and let them work
off some of the surplus oil, but the big
company is setting a bad example for the
smaller concerns, as they are pushing the
drill right along. and if they have no terri
tory available to drill they will go out and
pay some exhorbitant price for something,
with an understanding that they will drill
a dozen wells or more at once. This is a
very poor way of stopping the drill. There
is only one way to do this and do it right,
and that is for all hands to come together
and sign a contract to the effect that they
will drill no more the present year. If such
could be done there would be money in the
pockets for all those interested in the in
duStry. and at the same time the operators
could look for a better price in the future,
but at the present time the runs from the
wells are not very much more than the
shipments, so that the stocks are not in
creasing to any alarming extent.
Late reports are that some of the gas
wells in Shelby, Decatur, Rush. Henry,
Randolph, Delaware, Upton, howard,
Boone. Clinton, Madison and Hancock
counties are showing more or less oil, and
if the reports are true this will develop
into one of the largest oil fields in exist
ence. covering the largest area of any one
oil field in any State in the Union. If
these counties would become as prolific as
the present oil counties of the State it
would make Indiana the wealthiest State
i'm the United States without a question.
The entire gas belt will some day develop
into an oil held. as the drop off in the gas
pressure will give the oil and salt water
an opportunity TO work its way through
the porous rock. The heavy gas pressure
is yet much stronger than either the oil
or water pressure.
During the month of August there were
which is the least for any month during
the present year. OF these twenty-five
were dry holes and the rest showing a
daily output Of 2.265 barrels. or a daily
average per well of twenty-six and two
thirds barrels. This is an increase over
July of thirty-eight in completed wells. 625
barrels in new production. and four in dry
holes. In new work there are ninety-one
wells drilling and seventy rigs up. showing
a decrease from the July report of twenty
seven in wells drilling and twenty-four i'm
rigs up.
The bulk of operations in this field is as
usual in Wells county, with Blackford A
good second. The following tables give a
more definite idea of the amount of COM
pleted wells: