The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-09-29
MIAMI COUNTY OIL POOL
REMARKABLE STRIKES ATTRACT
ING WELL DRILLERs TO PERU.
First Hole Sunk in June Was Dry,
Since When Every Well Has Turned
Ont "a Strong Producer.
speclal to the Indlanap2lis journal.

posed of enterprising citizens, who believed
oil could be found in that locality, organized
and began the attempt to make their theo-
ries pan out Their first venture was To-
Gated on the Wallace farm, two miles east
of Peru and was buster. They decided
to try again, and on July started in to
drill on the A. n. Dukes land, on the north
west edge of town. The Trenton rock was
struck at depth of $3.50 feet, on the 18th of
July, and the well commenced to fill up
rapidly with oil on the first screw in the
sand. The sand was penetrated in the
neighborhood of twenty, feet and the we'll
started off flowing at the rate of fifteen
barrels a day, through the casing. The new
strike did not cause any great surprise or
excitement, and the news did not travel
half so quickly as might have been ex-
pected. The Peoples Company did not tube
their well for some time. but when they
finally got it to pumping it started off at
$50 barrels and at once the oil fever broke
out among the Peruvians in the most ma
lignant form. The Peoples Company then
saw that they had a good thing and pro-
ceeded to give it a strong push by starting
two more wells, one 800 feet west and the
other equal distance south of the initial
we'll The Runyon Oil Company also started
a well on it's land, few hundred feet east
of No. l Dukes. All three of these wells
came in better than the first well, and when
put to pumping started off at 200 barrels
or better. The oil craze commenced to run
riot at once, while the oil fraternity jumped
into the game with the greatest zeal mani
tested among Ohio and Indiana operators
for long time. When oil was struck local
capitalists, who showed desire to go
ahead with the development of territory,
were given the preference over outsiders,
and leases were hard to get. The land in
the vicinity of Peru is largely held by peo-
pie interested in the numerous local oil COM
panies formed, and they preferred to test
their territory themselves, believing they
would reap greater rewards in that manner
than by leasing to others There have been
a good many leases picked up by outside
oil men, and it is only question of short
time until the real development of
the territory will be in their hands; that
is, if the present development. which is
pool, should widen out into field. Already
many land owners are seeing the advantage
Of having their land operated by men who
have had experience in the business, realiz-
ing that it will mean much greater profits
to them and result in a more rapid testing
and developing of the territory which is
looked on favorably. Local companies have
in many instances leased on terms of one
quarter and one large lease was taken at
one-third royalty, terms to which operators
Of experience very seldom agree, unless the
territory is unusually gilt-edge.
FUTURE OF THE FIELD.
At this writing the future of the field is
matter of speculation. Every one inter
ested has his own opinion and theory, to
which he is justly entitled until the I'M
biased and disinterested story of the drill
is told. In years past there have been four
or five wells drilled in the territory lying
to the southeast and south of Peru. but
they have all been recorded as failures.
That cuts little figure at present, however,
except in the immediate vicinity of the pres
ent producing wells over 1000 feet directly
east of the Dukes No. l, we'll was drilled
for gas eleven years ago, which was dry.
although a small show OF oil is said to have
been found. Bearing this in mind, the Peo-
pies Company which first scored failure
towards the east, on the Wallace farm de-
cided to go west and made its location on
the Dukes lots and scored bulls-eye the
first shot Results of operations to date
furnish very little data to figure on for out
lying territory. Taking the old gas we'll as
a starting point, the sand rises rapidly to-
wards the west, No. l Dukes. being on the
top of the ridge which some operators fig
ure runs north and south, with a possible
deviation east west The gas we'll got
the Trenton rock at S76 feet. A few hun
dred feet west the Bearss Oil Company has
completed its first we'll on the Bearss farm
and has what will be fifteen or twenty
barrel well. after being shot. This is the
first we'll completed outside of the four big
producers. The Bearss well got the Tren-
ton rock at $40 feet, rise of six feet A
few hundred feet west from the Bearss, the
Fullwiler well has been drilled in and is
showing somewhat better than the Bcarss
but will hardly be so good as the present
producers. although only 800 feet east of
he Eha LttYfl
wiler well struck the sand at S6S feet, a
slight rise from the Bearss. The Trenton
rock was found in the Runyon Oil Com
pany's No. l at S691a feet. rise of S1a feet
in 300 feet on an east and west line. -Four
hundred feet west of the Runyon well is
the original well of the pool the Peoples
No. 1, which got the Trenton rock at SO
feet, showing rise or ~ feet. Two hun
/, No. 2 got the sand at S44 feet, while No
g. 500 feet west of No. l, got it at $40 feet
This makes it look as if the Trenton forma-
and will have the result of turning opera
tons westward, with north or south de
field thirty-one wells drilling and rigs up
with the exception OF two. none of which
are LOCO feet from the quartet of producers
and over half of them only a few hundred
feet away, while there are a dozen hugging
the lines of the little triangular lot on which
the Peoples Oil Company's wells are To-
Gated.
There has not been such a case of town
lot operations in Indiana and the chances
are tnaI the results attending VIII be but
history repeating itself so far as loss is CON
cerned. OF all the operations on town lots
four-ffthS is being done by local companies
two dozen of which have been organized
with stockholders varing from millionaires
to day laborers. Town lot leases are at a
big premium and all that is desired is
enough room to set a rig and boiler. One
company had to put the derrick in the rear
of a house and the boiler where the front
porch ought to be to get around moving
the house off the lot. Leases are favoring
a south and southwest direction and the
farmers in that direction are getting their
first experience with the genuine, hustling
oil men. The Peoples Companys No.
we'll, located in that direction, is showing
for the best in the field, and can readily
be put at four hundred barrels, while the
ner property, one thousand feet west from
the initial wells. is showing for a good one.
One firm of Montpelier operators has Sc
cured a lease on a part of the old Wabash
and Erie canal bed and right away, extend
ing from point three miles east of Peru
TO the railroad bridge west of town, max
ing a strip four miles long. If the belt runs
north and south the narrow strip will be
sure to cross somewhere.
OTHER TOWNS EXCITED.
All the towns in the surrounding country
are catching the fever and companies are
being organized to drill at Denver, nine
miles north. Companies have been formed
and money raised to drill test wells at
Mexico, six miles north: Bennett Switch
ten miles south; at New Waverly, ten miles
west; at Rich Valley Kokomo and other
places. The Peru strike will undoubtedly
iaad RI a Iof Of fsyx,ild- cattinos' and II would