Marietta daily leader. (Marietta, Ohio) 1895-1906, 1899-05-09
Oil Notes.
YEsTERDAY's MARKET.

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The rig is up for the Reynolds No. 4
at Gravel Bank.
The Cooke well, which was drilled 10
the Berea sand, now has about 600 feet
OF oil standing in the hole.
1t is rumored tnat there will soon be
another we'll located on the Charles
Cone farm.
Drilling has begun on No. Hutch
ison.
Mr.. Archie Allen has disposed of his
holdings in the HendershOt lease at
Newell's Run, which consisted of a
one-third interest in 1870 acres on
which there are now five producing
wells, to Mr.. A. A. Schnaufer, of this
city, for $3.50.
Clarke & Co.'S No. 20 Moore was
drll.ed in Sunday morning and is
showing up equally as good as well No
10 which drew off the gas from the big
wells on the Wittekind lease.
The u. S. Oil Co.'s Wittekind No. 9
which came in Sunday is showing for
fair producer
Kingsley has broken wheel at the
well just west of town on Harmar
hill.
Drilling which was stopped on the
Cisler we'll for several days, has been
resumed.
There was very little out of the Or
dinary routine developed in the lower
Southwest fields during the past week,
The drill is exceedingly active in the
old fields and is being pushed with
great energy in an effort to find new
pools. The volume of experimental
work doing in the lower Southwest and
Southeastern Ohio Should lead up to
The discovery of some new pools. I'm
der the prevailing condition, 1t is
quite likely that large scope of terri
tory w. | be tested during the coming
summer and fall than has been record
ed for a number of years. The old
fields have been drilled and shot until
there is no longer any hope of securing
moderate supply of new production
from that source.
One of the best evidences of the sat
isfactory condition OF The oil business
at this time is the small amount of
producing property that Is now in the
market. The brokers, who as a rule,
negotiate the sales of production,
claim that holders are not disposed to
sell at a price that conservative pur-
chasers will entertain. Aside from the
big Scio deal of two months ago. there
has been no large transactions. Those
that have been consummated in the past
three or four months have been of a
speculative character.
Machinery and supply dealers gem
orally are doing prosperous business
and claim their business Is now con-
Quoted along lines radically different
from that OF a few years ago when the
supply companies furnished the opera
tor with the necessaries to drill and on
long time credit and renewing notes
occupied a good deal OF their time.
Sales OF machinery are now made on
nearly a cash basis and the purchaser
Is expected to settle when the bills are
due.
The discovery of most importance
to the trade at dhis time is the deep
sand well on the Garner farm, in Wet
eel county, w. Va, located four miles
east of Proctor creek The way this
well has been holding up leads to but
one conclusion, and that is, that 1t is
drawing dts supply from pool of no
small dimensions. Beginning with the
past week the production was above
$50 barrels a day and at the close the
production has not fallen off more than
rs or 80 barrels, very good record
and one not often surpassed. It's act
IONS place it outside the freak order
and leads to the impression that it is
surrounded by prolific producing ter
rltory. Its area Is a matter for the
drill to determine. If as it is now
thought to be Gordon sand, there is
scarcely a chance for congested pool.
All of the previously discovered Cor
don sand developments in West Vir-
ginia have been of large dimensions.
The work of developing some of them
has been going on for four years and
has not been fully accomplished.
The Gordon sand development in
Doddrigde County, at the headwaters
OF Hughes river, is a new discovery
that will soon be heard from and may
prove OF great importance. The wells
in the Harrison county development are
uniformly small. They average about
30 barrels and now and then dry hole
is encountered
The Big Injun sand development on
Rich Fork, Monroe county, ds progress
ing slowly, the work up to the present
has been of an experimental nature
and The direction OF the producing for
nation has not been determined.
On Wilson Run, Washington county,
there is some promising territory and
operators are meeting with very good
success.
The holders of undeveloped leases at
Scio are leaving nothing undone to
bring the drill to a standstill in that
field, Fighting farm lines and drilling
nm IN rnilrnah l.inrht nf r,rr W. ,.in.l,I