The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-11-29
A FALLING OFF in OIL
PRODUCTION FOR NOVEMBER Is
MUCH LESS THAN IN OCTOBER.
Due Largely to Ehect OF Bad weath.
Results I'm the Loogootee District.
ecial to the indianapolis Journal.

Special to the indianapolis Journal.
MONTPELIER, Ind, Nov. 2S.-During
the month OF November now closing i'm the
greater Indiana" oil field 80 wells were
completed. OF this number ifty-six were
dry holes and gas wells. the balance hav-
ing a daily output of $50 barrels. or an av-
erage per well per day of lS1z barrels. This
is quite a falling off from The October re-
port, which has been looked for. owing TO
the bad condition of tho highways for quite
a period during the month. A slight adj
vance has been made in the price of the
product during the month, and at the pres
ent state of affairs a more liberal advance
should be made by the purchasing agencies.
The condition of the oil industry at the
present time is very satisfactory to all
concerned, and should the price remain
above the dollar mark the coming season
there will be a great rush for territory in
this State. The oil leasers and operators are
now securing over the State in every nook
and corner where there is any chance OF
finding the crude product and are at work
taking up all the Unbiased lands they can
find. The great gas belt is attracting the
greatest attention, and when the laws are
changed and the people are allowed to drill
for the product there will be a great scram-
BILE for leases. With l4 wells drilIing and
131 rigs up and building at the close OF the
present month, it does not look as IL the
operations were on the wane.
The Loogootee strike at the opening OF
the month stirred up quite an excitement in
that part of the State, but since the Loo
gootee Prospecting Company has drilled in
the fifth we'll, which is located only six
hundred feet east from No. 4 well, which is
the producer, and 1t came In a rank failure.
there is not so much activity for leases.
The next important well TO come In In that
field is the one now drilling by the Medley
Oil Company. about a mile north of the
producing well. This venture has been de-
layed by a fishing job. The well that is
producing oil shows a production of seven
barrels per day from a ten days gauge by
a prominent producer. The state-line pool.
where the Ohio Oil Company some weeks
ago drilled a wildcat well on the Dudgeon
| property that stirred up the oil trade from
California to Maine. has subsidized TO a
| great extent since several dry holes have
been finished in the vicinity. The trade
does not look for any record breakers in
that end Of the State. The most dangerous
spot for big wells is confined exclusively to
the gas area. The Godfrey reserve will in
time develop into a stirring oil field. al
though the early ventures there did not
prove very productive, as abundance of salt
water was at that time found AND the trade
did not know how to handle IL. But that
has changed and any of the producers are
glad to see some of the briny fluid when
drilling into the oil formation, as IL signi-
fies better staying qualities for the wells.
1t is the wells that stay good that the peo-
pie reap the good returns from, as the
fiashy wells do not stay long enough TO pay
the cost of drilling.
One thing hat is a detriment TO the oil
trade at the present time is the high prices
asked for. pipe and material used in drilling
a well. The material has more than doubled
| the past two years. Two years ago any
| amount of secondhand material could be
purchased for most any price. Old casing
that was in good shape could be got at less
than Is cents per foot, while now IL is
bringing from SO to 371k cents per foot. and
all other pipe in the same proportion. Lum-
Der has advanced at least one-third. Re-
capitulation: