The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-08-31
THE INDIANA OIL FIELD
DECREASE IN WELLS AND PRODUC-
TION DURING THIS MONTH.
Oil Men Have Got the Worst of 1t in
Madison County Field-Other
Fields Developing.

MONTPELIER, Ind, Aug. 30.-Operations
in the great Indiana oil field for the month
of August make very creditable showing,
but the recaptulation shows a decline of
five wells completed. The only bad feature
in the decrease is the new production of
40 barrels. The average for August is
twenty-nine barrels a day. The low price
is very much against operating. In the
Madison county pool. in the vicinity of
Alexandria, the oil man is virtually oil mad
and exorbitant bonus money paid for
leases which have proven worthless. This
money is a loss to the oil trade, while it is
clear gain to the farmer, and it is put
right back into circulation. The outlook is
for an oil boom near Peru, where the Peo-
pies Oil and Gas Company completed
well over a month ago. This venture
proved profitable as the we'll yields twenty
barrels a day without a sign of dropping
off. These steady producers are where the
oil man makes his money. Several new
wells are to be put down near Peru at
once. There are many other localities in
the State that look favorable for oil as
Peru. AT Francisvile oil was found in pay
ing quantities, as the older wells drilled
for gas will show A number of wells COM
pleted there in the early days of operations
for gas showed a capacity of twenty-five
barrels a day. AT Royal Center the same
was the result of early drilling. Nothing
has been done in either of the two men,
toned fields within the past five years.
A well-known oil man says that had there
been as many test wells put down
around the DR.. Light We'll at Broad Ripple
as there have around the Alexandria field,
that the production of the Broad Ripple
district would be double that of the Alex
anoria pool, as the big wells at Alexandria
were of the f1ashy order and in nine out
Of ten show very poor staying qualities.
The pool northeast from Alexandria on the
Peck and Blake farms has failed to come
up to expectations and has been big dis
appointment to adjoining leaseholders. OF
the three wells drilled within few hundred
feet of the Blake gusher only one has got
any oil to speak of and that is the Zim-
yer farm 1t is doing twenty-five barrels
after being shot.
During the month of August there were
sixty-six wells completed in the great In
diana field. and of that number twenty
three were worthless for oil, the rest show
ing daily output of 1,215 barrels, or TWEEN
ty-nine barrels a day on an average. This
is a decrease of five in completed wells
two dry holes and 410 barrels in production
from the July figures AS usual, Wells
county leads in the operations, but in fact
county operations are dropping off to a
great extent, owing to the price of the
product. The Standard Oil and Manhattan
companies and the Indiana Pipe Line and
Refining Company are all making a big
outlay in building new oil line INTO the
Madison county held. 1t is estimated that
at least 81 GOO 900 will be expended. In new
work under way there are fifty-two strings
of tools at work in the State and fifty-three
rigs up ready for the drill, which is a
slight increase over the new work for July.
This can be considered very encouraging
to the driller
The present outlook is for an encouraging
fight between the Standard Oil Company
the Manhattan Oil Company and the In
diana Pipe Line and Refining Company
Cudahy people have been in Ohio for the
past few days talking over the situation
with prominent Ohio operators who are
connected with Indiana production, and the
indications are that a great many of them
will hook on to the Cudahy line. 1t is re-
ported that George w. Barnes, of Toledo
one of the heaviest Independent producers
in the Indiana field. will disconnect from
the Standard and give his product the
Chicago people. 1t is also currently re-
Lineman, Kerr & Co.. Benjamin Pyle and
many others are about to connect to the
Chicago line The l cent advance per bar
rel by the Cudahys has had a tendency to
of the output. 1t looks as if the Manhat-
tan Company intended TO advance the price
above that now paid by the Cudahys. This
will make the Standard advance the price
or they will get but little oil from the field
outside of their individual production
some of the wells completed in the State
for the month of August: