The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-08-06
THAT ADVANCE
in The PRICE
OF CRUDE. OIL
Is Looked Upon With Suspicion by.
@The Scout" Who Gives His
Reasons For This View.
CARRIERS IMPORTANT STRIKE.
In Richie county-Wns a Small
Maxon Producer-Is Now Big
Injun Gusher. NJ

e ~ tsfil III y ~
Since the last review many import
ant tangible events governing the ole
aginousl situation have come to pass.
some OF which were least expected. The
advance in the crude market at q time
when the field and foreign situation
never looked more bearlsh. the market
has advanced two cents. which created
10 general surprise Not even the must
hopeful looked for such a turn In the
trend OF events, and many old timerJ
look upon It as the re-enactment of the
little drama that characterized the VI,
and down Of the market in days long
since gone past. And now. as then. 1t
maybe only the calm before the Storm
and Just when the producers are maxi
ling calculations for an active and ag-
gressive campaign the wind will Veer
to another direction. and the market
will sink back below the point from
which It started. 1t Is hoped, however,
that this will not be the case. but II
the drill should be pushed in the new
ly, discovered southwest territory, as 1t
y is in other localltions. the result would
be an increase In the crude output. For
the generous act In advancing the mar
ket there is reason, and producers
will do well 10 keep weather eye upon
the trend of oleaginous events.
In Greene County.
i The bearish field shown in the south
west was augmented In old Greene
( county. Pa, last week. and. by the
way the wind blows In that county pro-
DUNG territory has been expanded. But
s IL the past history of the territory IN
which the well was struck Is to be ta-
ken as any guide of what the present
8 new strike will amount to, it is not like
ly that flood OF oil will be forthcom-
ing in the near future. The wall In
question is the sole property Of the
South Penn Oil Company. andiis locat-
ed upon the William Parry farm, Just
to the east of the old Brlstorla devel-
opment. The well started off IN dress
4 parade style, and gave the appearance
OF making a much better well than it
lis. Its initial output. according to. an
official gauger. was an even two hun
bred barrels n day. and since then has
fully maintained this output.
The same company was looking for
big results in their test well to the west
OF Freeport. in the same county. and
from the wells location had good rea-
sons for expecting a paying producer.
at least. The test venture was locau.d
upon the Joseph Evans property. and
the objective point was deep sand oil,
but when the terminus OF all the oil
Z formations was. reached the echo OF the
drill was dust, but a good pressure OF
{ gas was developed instead.
Attention is particularly directed
to the new Delaney develop
ment, near Pine Grove. In the
j county of Wetzel. in the state OF
West Virginia. This well is located upon
the Delaney farm. and when first
drilled gave evidence OF making an Or
binary producer. and but little atten-
ton was imputed to its advent. But y
couple OF screws more OF the drill IN
folded a different story, ana the result
was a 400 Darrell we'll.
The same parties have another test
we'll drilled on the Long property, in
the same county, about one-haif mile
southeast OF the Delaney spouter, at
which they are now interrupted vita a
serious fishing job. This is n practically
new territory. and is invested with
much interest, and the result of the test
on the Long property is causing much
attention. II another 40o-barrel we'll
should be developed on the Long 1t
!. would naturally indicate good digging
between the Long ana Delaney spou-
ters..
On Richmond Run.