Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1898-10-19
OIL N EWS
New Wells and observation-disclosures About
the Producing Wells


the Producing Wells.
The fdvance in the price OF credit
balances has set the talent to thinking
and they are now of the opinion that
it is quite the proper thing to hold
their production for the reason that
it is certainty that the price of credit
balances will go still higher. The fact
that the Standard will fiuctuate the
market for the purpose of soaring them
into selling has been taken into con-
sideration, and they will not pay any
attention to that part of the pro-
gramme. 1t used to be that whenever
there was a decline in the market
there were so many producers who
rushed in to sell their oil that it
would make a difference, but it is not
that way now. There are not nearly
SO many people engaged in the oil
business now on account of it being
necessary to put in quite lot OF
money in order to do anything worth
while, and what few do get scared
now and sell their oil do not amount to
a great deal. There is not the least
doubt but that oil will go much higher,
and that too within very short time.
Yoke & Co. drilled in their No. l on
the Morrow farm yesterday, and will
have a dry hole in the Keener forma-
ton. The we'll was drilled deeper last
night, and this morning a big gas
pressure was struck in the Big Injun.
The Henry & Macdonald Oil Com
pany cased last evening at their No. 4
on the Margaret A. Gorrell lease with
81.
There is a great deal of fishing out
in the northeast extension of the Elk
Fork pool at the present time. There
are about half dozen wells which are
fishing at from 500 to 1000 feet. On
the Cunningham farm the South Penn
Oil Company is fishing at three wells
at depths varying from 800, $50 and
700 feet, while on the Gorrell lease the
Eastern Oil Company is fishing at two
wells at about the same depth. There
seems to have been streak of bad
luck out there. Two of the wells men
toned are fishing in the cave and one
is fishing in the lime. 1t is expected
the South Penn will get the tools out
Of two of their wells this evening or
tomorrow and drilling will be re-
sumed
The Henry & Macdonald Oil Com
pany cased last evening at their No. 2
on the Margaret A. Gorrell with the
6A. This we'll should get the sand the
latter part of the week.
The Cutler-Harvey Oil Company have
completed their No. 2 on the Clenden-
ming and will have producer of about
the same calibre as their No. 1 on the
same farm. 1t was drilled in yester-
day, and the report received here this
morning was that it would be good
for about so to rs barrels a day
The Henry & Macdonald Company
will case at their No. l. ON the Lloyd
Gorrell the latter part of the week,
and it should get the pay by the mid
die of next week.
Treat & Crawford's No on the Wet
eel farm is due in the sand and should
have been in to-day, but up to the
hour Of going to press nothing had
been heard from it. 1t will probably
get the sand some time tomorrow
Keller, Kohl & Co.'s well on the Har-
vey farm in the northwest extension
of the Elk Run territory should be in
the sand the next couple of days.
Henderson & Co.'S well on the A. c.
Martin farm below Friendly, which has
been fishing for several days on top of
the sand, is expected in tomorrow
morning.
Gordon & Co.'S we'll on the Reed
farm, in the Wilson Run territory, has
been drilled into the sand and will
make fair producer
The Little Muskin gum Oil Company
will commence building the rig for
their No. 3 on the Martha Thomas
farm. in the same territory, in a couple
of days.