Wheeling Sunday register. [volume] (Wheeling, W. Va.) 1882-1934, 1898-06-26
900 barrels per day. and this means


that the average annual output for the
entire Appalachian and Ohio territory
for the present time should be in the
neighborhood of so, 000,0 900 of the fluid
IN the crude state, while in fact 1t is
better than 20,000,O00 less than that
amount, which goes to show that de-
spite the fact that more wells are be-
ing drilled each year the production IS
falling lower and lower on the average
for each well. Since in the early part
OF 1885 when the price of oil took
sudden shoot up the line there has
been a remarkable increased demand,
equal almost to forty per cent, while
the increase in production has been
less than seven per cent. Thus, IN
spite Of the great efforts which have
been made since the palmy days OF
the fields around Bradford, and in 9th
er parts Of Pennsylvania, to produce
oil in greater quantities, the supply
has not met either the demand Tor
domestic use or for importation. I'm
til 1885 it had been the experience in
the oil business that the supply ex-
ceeded the demand, and consequently
up to the time there had been grad
ual accumulation of stocks, resulting
Standard succeeded in wrestling from
the Russian producers tWo-thrds OF
the foreign trade the exports increased
about four fold from 1875 to 1850, nav
ing a greater value than the aggregate
of all the gold which was produced IN
the United States.
1t was not until the year OF 1873
that California Chic and West Viz
ginia began to appear as important
factors in the production of the olea-
ginous fluid. California has increased
its production to wonderful degree
since that time, but all the oil pro-
duced in that State is consumed at
home Since 1885 West Virginia has
been constantly increasing in produce
| ton, and to-day it offers the best IN
ducements to the operators OF any OF
the States in which Oil is found. There
is more undeyeloped territory which
looks good in this State alone than IN
all of the other States combined. 1t
was at about the same time that the
Northwestern Ohio fields began to as
sumo any prominence in the production
of oil at the time when the excess OF
production over consumption was at
the maximum limit. Since that time
the fields of Ohio and Indiana as well
as those of the Appalachian system,
have been declining. In the case OF
the latter the same cause for the de-
cline exists as in the former i. e., the
excess Of consumption over supply,
and the indications now are that the
excess will greatly increase during the
present year. The consumption dur
ing the past ten years has much more
than kept pace with the production,
bearing in mind the fat years when
the Bradford Mcdonald and Sisters
Vile fields were in the zenith OF their
production. Since 1891 the consump-
ton has more than met the produc-
ton, and each year has witnessed an
increase in domestic consumption OF
about Is per cent. On the ether hand
the production has not proportionately
increased, and at the present time
there are very little store left to sup
ply the demand The fields which
have been mentioned were able at one
time to double their capacity for pro-
ducing oil, but at the present time they
are not capable of producing a two
fold annual yield.
Since 1895 there has been in round
numbers about 10000 wells drilled in
the Appalachian territory, while in
the Ohio-Indiana fields there has been
about $1,000 new ones completed, max
ing a total Of 81 900 wells drilled in
three years at an average cost or
about $4,000 The production OF the
wells drilled in the western territory
as represented BY the Ohio-lndiana
fields was sufficient for the demand
for that product, but the aggregate
stocks have decreased since the Stand
ard in refining have been mixing TWO
grades of oil. Up TO the present time
there has been produced in all the fields
of the eastern oil field including all
those east of the Mississippi river,
SO2. OOO. 900 barrels the Pennsylvania
fields producing $50, 000, 600 or an aver
age of about 1900, 600 a year. In the
meantime the total number OF pro-
ducing wells has not exceeded lUo.0Oo,
the annual average being about 5000
in the Pennsylvania fields, and II It
takes that many wells a year to sup
Div the present demand, what will be
the result several years hence when
the consumption has increased as 1t
has been doing the past few years. The
fact of the matter is that it Will be
necessary to drill more than 6,00O
wells in order to keep pace with the
present rate of increase in the con-
sumption of Pennsylvania oil, while
during the same period it will be nee
essary to drill even a larger number
in the Chio-Indiana fields.
There is a popular belief that the de-
mand for Illuminating oils is decreas-
ing on account Of the competition of
electric light and artificial gas, but
there is nothing further from the
truth. Not only is Illuminating oil
holding its own in all the markets Of
the world but the consumption is on
thwe increase. In the greater part Of
the country oil is the only illuminant
available, and even in the larger cities
many of the consumers of electricity
and gas have gone back to the use of
oil lamps as an illuminant Then
again the constantly increased manu-
fa~lure of gas from oil greatly assist
in keeping the average of consumption
up.
1t will be very aptly seen by any
one who peruses this article carefully
that the present price of oil of the diff
TENT grades is not what it should be.
Taking the average cost of drilling
each well Of say $4,000 to $4,000, and it
will be seen that there is no money in
the business at the present price of
the oleaginous commodity.
Taking everything into consideration
tcA how IN o-I tra+ ~