The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-12-01
NOVEMBER OIL LETTER
AVERAGE PRODUCTION OF INDIANA
WELLS is TWENTY BARRELS.
No More Gushers Being Drilled and q
Falling OF of Nearly 80 Per
Cent. I'm Monthly Output.

Special to the Indianapolis Journal.
MONTPELIER, Ind, Nov. 3O.-Never be-
fore in the history of oil developments has
there ever been anything like the excite
ment that has been displayed at Peru the
past two months, as there has been 1873 wells
finished. 1t is estimated that $4,000 has
been expended in the completion of wells
alone in that town-lot pool, to say moth
ing of the fabulous prices paid as bonus
money for some of the territory. There
still remains a great amount of territory
to be drilled that looks good. but the ex-
tension OF the field Is a thing of the past.
as dry holes have been completed in every
direction from the town, and If there be
an outlet the belt can hardly be larger
than an eight-inch pipe. Test wells have
been put down in nearly every town sur
rounding Peru, since the Peru excitement
started, and none has proven of the pay
ing kind for either oil or gas. But very
few of the old-time operators have
branched out much, as they have gone
through the same experience probably
dozen times. Several of the companies
that invested at Peru will make some mon
ey, while many of the others will come out
of the excitement losers.
During the month there were 1SS wells
completed in the entire Indiana oil heid;
of this number thirty-eight were dry holes
and gas wells, while the rest show a new
daily output of $500 barrels. This, COM
pared with the work for October, shows an
increase of siXty-seven in completed wells,
and decrease in new production of $50 bar
rels, and eight more dry holes. One fea-
ture of the operations for the month is
that the wells for November proved less
productive than did the wells of October.
one would naturally think that with an in
crease of sixty-seVen wells the output
would be greater, but it shows that the
productive Peru and other productive pools
OF the State are less productive than they
were. No more wells with capacity or
from 800 to $50 barrels are being completed.
AT the present time any we'll that will go
a hundred barrels is considered big md.
The average production each day for No
vember is twenty barrels to the well, with
thrty-slx and one-half barrels in October.
1here are ninety wells drilling and forty
elght rlgs ny, an increase over the Octo-
Der ngureS OF tn enty-SlX.
Mahaser CurlIn, OF the Mo"hattan Oh
Company, has the following TO say ABOUT
the Feru OIL neIu: I'VE haven't anything
at Peru, and We are glad OF 1T. 1 guess
there are d great many VINO would ike TO
get out OF there, even IL they could. My
company put S0J0 in leases, but we are Will
ing to let theta go. / nave sampled the
Ecfu pfOUucL cOLSlueF II LO SOOu IL
too heavy. The absence OF gas as against
it, although Its commercial value is the
same now as the rest of the Indiana prod
uct. 1t requires double the amount of oil
tor fuel as any otner oil yet developed In
the State" Inc Manhattan Oil CompanyS
test Wen completed on the harry CarreH
farm, near hartford CITY, some weeks ago,
is showing remarkable staying qualities, as
1t is still doing forty-tlVe barrels day. Tha
Acme Oil Company has competed a wen
on the Lizzie Mccartney farm, in this field,
and it is doing about forty barrels. Thia
Is a natural producer ana has not been
shot. The Diamond Oil Company has COM
pleted well No. IL, on the Meyers farm, on
the Indian reservation, and has what shows
for another gusher The same company
has completed a very light well on the fife
farm, two miles from the Meyers farm.
The same company will drill another test
well on the Rife farm at once. AT Waver-
ly another test well is being sunk, as the
first buster did not satisfy the investors
Another oil sale of some magnitude has
been closed in this field w. Ii. Menden-
hall & co. have bought of j. G.. Lineman,
of Lima, o., eleven oil leases near the
hamlet of Mount Zion, in Sections and 2,
in Chester township, Wells county, for
consideration of S34, 900. The property en-
braces a number of producing wells and
rigs up. The wells are all considered as
price paid is regarded as a good one for
the seller. 1t is reported that the Cudahys
will hitch on to the new owners property
and will henceforth buy his oil at an adj
vance of cents a barrel over the Stand
ards quotations. The following table shows
a comparison of the work in the Indiana
field for October and November: