The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-03-15
THE OIL FIELD QUIET
LOW MARKET AND BAD ROADS RE
TARD THE INDIANA INDUSTRY.
February Rcport on Shipments and
Net Stocks shows FnVorabiy Tor
n short Month.
Special to the Indianapolis Journal.
IL Ind =llnera- |

Special the indianapolis Journal.
MONTPELIER, Ind, March 1i.-Opera-
tons in the center of the Indiana oil field
are rather stagnant. both owing 10 the
weather conditions which make the moving
of oil well materials slow and expensive
work, and a comparatively low market
There are less than "A hundred wells now
drilling in the entire field and the indica-
tions would not warrant a forecast OF an
increase. Roads almost impossible and
will remain that way for month or more.
The indications point to the new field south
from this place. soon the roads be-
come passabe. few weeks ago Davis Il
Co. drilled in a salt water gusher on the
Gale farm, near the good wells. by the
same company. the Montpelier Gas Com
pany and 5. w. TAFT & Co., in Section 81,
Harrison township, Blackford county. So
great a volume of water was encountered
that the owners gave up any nope OF max
ing a profitable we'll out of IL ana did not
rig ii up to pump. Now the owners have
changed their minds and are giving il
test having commenced TO exhaust the
water with three-inch tubing. 1t also looks
as if a large scope of good territory might
be added TO the fields area III the Godfrey
reserve lands. lying three miles southwest
of town. The Diamond Oil Company has
been operating in that locality with more or
less success and has just drilled IN its NO.
on the Meyers farm. 1t Is reported TO be
good TO- 20 barrels 1T the start. The COM
pany Will put down two more wells at once.
The Grant Oil Company has completed No.
10. Thompson farm, Section %. Van Buren
township, Grant county, and IL is good for
sixty barrels: Cock, Bell * Co.'S No. !.
Owen farm, Section &c. jefferson township.
Huntington county, sixty barrels; Rich
mond Oil and Gas ComDany's No. 2. Viii
liams farm, Section II. Jackson township.
Jay county, twenty-five barrels: Ohio Oil
Companys No. II. Hirscney farm. Section
%. Hartford township. Grant county. very
light producer; Superior Oil Company has
dry hole on Williams farm, Section Is. jack
son township, Jay county. j. II. Slater has
purchased the Slater OIL Company's prop
erty in Wells county for $3.50.
The shortest month of the year appears
in oil. as a heavy increase is recorded in
the pipeline shipments over the preceding
month in the Ohio and Indiana fields. Dur
ing February there was another decrease in
the net stocks of Ohio and Indiana oil hello
by the Buckeye Pipe Line Company. in
consequence of the shipments being over
1000 barrels a day in excess OF the runs.
January witnessed decrease in the stocks
OF l2S.4i6 and February of 20l,6il barrels.
The average daily runs of the Buckeye Pipe
Line Company of Ohio and Indiana oil for
January We're 1924 barrels, which was 1855
barrels below the December average ana
the smallest average known for the past
year. In February the runs averaged 90
49, barrels a day. This brings the average
production nearer to the figures that pre-
vailed at the last of the year. Tho Decem-
Der average was 81. $50 The daily average
shipments for January were 5S. 962 barrels
and for February Ass barrels. The follow
ing table is a summary of the runs and
| shipments of oil srom the Ohio and Indiana
| oil fields at the close of business Feb. %:
Gross stock. .......... "a $50 $50 20
| Sediment and surplus 1855 500 II
| AcceDtances 16 500 0OO IN