Marietta daily leader. (Marietta, Ohio) 1895-1906, 1896-11-25
in The OH Fields.
OIL MARKET.

corning ......... ......... .......l w
Newcastle. .................. SO
North Lima. .................. 30
South Lima. GO
Indiana ...... ............... OU
Pittsburg, Nov. GA slump of Ave
cents in the credit balances market
and few gushers in the lower South
west field supplied the gossip in oil
circles during the past week. There
is no Disgusting the fact that the de-
cline in the price of crude was sur
prise to the trade, coming when least
expected. When it was learned that
the down grade movement was in
sympathy with refined and that the
latter had taken the first step in that
direction, the cause Tor the break was
attributed to the weakened condition
of the export refined market rather
than bearish aspect in the fields. 1t
must be admitted, however, that the
field situation at this time is not such
as will warrant the belief that any
marked advance is possibility of the
near future.
Field operation have been more sue
cessful in the past two months than at
any time in the past two or more years.
The addition to the volume of new pro-
duction comes from no one particular
locality, but nearly all OF. the old de-
velopments from Mexican county, on
the northeast, and extending on down
through and as far as Tyler county, in
the lower southwest.
The lower Southwest is the most
formidable competitor in the race for
new production. Three localities prom
Use liberal area of good producing
territory. In the size of their wells,
Benwood, Monroe county, and the He
bron territory, in Tyler, take the lead.
Less is known of the deep or Gordon
sand territory near Alya, Tyler county,
but if the South Penn Oil company's
strike on the J. W. Wharton farm is
an index to what that country can do,
there will be no small volume of new
production from that source. The
Wharton well has been in and produc-
ing more than 800 bbls. day for two
weeks, but the big concern, for reasons
not made public sawed wood" AS an
evidence of their abiding faith in what
can be found at depth of more than
$500 feet below the earth's surface,
they have started six or eight wells in
that locality. A concern with smaller
resources would probably think twice
before plunging for more than one or
two at a time of the $4,000 beauties.
A very few busters in that territory
makes healthy bank account look
very sick.
Over in the Benwood pool Treat s.
Crawford added good big slice of pro-
ducing territory to that development
on Friday, when they drilled in their
test on the Mcfarland farm. located
fully three-quarters of mile to the
northest of the wells on the Price farm,
and were rewarded with a producer
that flowed at the rate of 600 barrels q
day, and when last heard from was
making 20 barrels an hour. The north
east line seems the most promising
and judging from the Mcfarland well,
the limits of producing territory along
that line are not in sight
Two new wells in the Hebron pool,
one on the O'Dell and the other on the
Clutter farm, were new acquisitions to
that deyelo pment, and added 500 bar
rels day to the production of the pool.
In Doddridge county, Big Flint dis
trict, Murphy, Jennings & Co. got a
200 barrel producer at their No. 8, on
the Hardman tract, and have started a
test on the Hardman 200 acre piece, To-
Gated a mile east.
Local operators have not been idle
Notwithstanding they have not been
so fortunate as the lower southwest
contingents, in finding big wells. Jen-
nings Bros. have good producer do
ing 200 barrels day from the hun
dred-foot on the Parks farm, in the
Cooperstown district, Butler county.
On Rough run, near 'Delano station,
Haymaker & Co. picked pocket on
the Keck farm that at first looked like
gusher, but it winkod out when
drilled deeper, and is small affair.
Rough run territory has played the
talent false SO many times in the past
that a steel sand line would not be
strong enough to pull them back and
induce them to try it again. It's more
uncertain than any gold brick invest
ment or betting on foot race. It's
just about equivalent to heads wins,
tails lose.
At Gallery Junction and Evans City.
operators are chasing the town lot
phantom, the two places present sort
Of go as you please appearance, each
fellow for himself, and you know the
balance.