The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1900-04-16
nh PRODUCERS
ARE BITTERLY
DISAPPOINTED
no Recent Cuts in the Price Of
0''' Crude, Just When the
Field Situation
Justified A GOOD ADVANCE.
49,. Was Nothing to Justify the
'D''' cy,-Review of the Past
Week in oildom.

The feeling oil Glscoi'e"s am
~, among the producing element
n the greater for the reason that
~, =, when they felt certain conditions
,,-.,,ssd an advance in the market, val
,"1 the contrary, were marked
Ga When the first cut was made
al'" ,sr1ge producer thought but little
20 feeling confident the deprecia-
~, -orIl last but a few days. and that
~ oDly the prelude to a long antie-
~ ~, ,tyance, and which has so often
~ t..,r,srIgcd the appreciation of crude
- 1,y, gone BY after long period of
p.-, values. But in this they have
-. utterly disappointed, and to use
~, S,, ysrnacular OF the statesman, they
y, know where they are at"
nav have also cast about to aseer-
h1, ~, eause OF the downward course
','n -" NJ, but from every point Of view
OH 10 ind a single logical reason.
u w,I hey accept the situation In their
""" philosophical way, they view
h1Iu, .S,,,,oicIon the influence that has de-
WIN VINE. III ,Ssm uf their honest dues. the
IN IL The view OF a prominent produ-
sySe s.So In discussing the situation
egi W." ,bs writer, said he reflected the
WIN I, .. OF every producer In the east
s =. nrSJuclng regions. The producer
eA ,iJ would not have thought so
~ S.' Sbout crude being cut to present
g g.-(" mad a prolific pool OF large di-
-s, been discovered. But such is
nh! H". ,bn ease. and according to the last
~, rrport Of oil operations, and the
H lIoai live report. the situation from
~ w " Standpoint was decidedly bullish,
md The only logical deduction to De
jrswn from the report was a higher
market. asa .,.,,o
,5p never since the earliest days OF pc
,,nisnm presented a more favora pie
o SgiS nor a brighter aspect. View the
SoSJgions from any point Of view, and
S,w is possible for, the small prudu-
~ ~ created in the northern and middle
ssIds to operate at the least possible
80, IL more than am able to figure
MI The producer may now look for
n n oil and We can thank our lucky
Stsrs II II doesn't go below these hg-
SIN SIM. the last review of field opera
,ieBs the situation has not been materi-
SIly changed. Upon the whole produc-
ion has decreased, II anything. while
tbe number OF highly important wildcat
wells mat have since been completed
and come In failures, Is not only re-
marks5e. but has taken the wind out
~. the. sails Of the bear element. ana
tbose who felt sure they would develop
BIZ field Of Big Injun and deep sand
territory In fact. there has not been
week FOR many months when SO many
Important wildcat ventures were drilled
as In the past seven days. ana con-
5,nning, as they have, many thousands
Of acres Of West Virginia territory. And
II mus, be remembered, too, that the
majority OF these wells were drilled by
Old experienced oil men, who seldom
miss their geological Conclusions IN
making locations.
Many have placed more confidence In
he Gamer pool. WctZel county, east
from Proctor. than the situation just-
fss Here. after two years Of activity
Of an experimental nature. small pool
q fairly productive territory has been
developed II is safe to say that there
has been more money expended In find
ins II than all the production amounts
To-
Southwest from the Mills tract. In
Weizel county, Is perhaps the only sec
ton from which any material or tangi-
be results can reasonably be expected.
This fact has been demonstrated by the
Jennings Brothers Il Company's last
venture on the Mills tract. which at
first was considered practically a fall
IRE, but by the aid OF a liberal shot
Il was converted into a gusher OF the
int magnitude, having an Initial pro-
tg,tiol Of over fifty barrels an hour.
us is Gordon sand territory, and Its
reputation FOR holding up has never
ben eTcelled In the long history of the
Petroleum industry,
hFillnOt be surprising to witness the
eafy demise OF the Wolf Summit pool,
u Tie advance experiments. recently
completed, are any criterion. These
nave all turned out failures, and unless
new lead should be discovered soon
waning production can be counted
upon In this region.
IL Is tue the producing limits In the
llstHct on tn" south fork OF Hughes
nun In Dotdridgc county, W. Va. but
BEN extended, but when the average
cdilore Of the wells is taken into con-
elu,rdtIon the new production amounts
70 Out little, about Keeping pace with
We decline OF the old production.
me record last week from the shall
low 70. sand district in Peasants county.
W, va, was decidedly poor. Several
very Important test wells were complet-
" 'hat looked like sure winners, but
h.,y all came In failures, and as re-
~ condemned a large acreage OF ter
ggy1ig. Many OF the inside locations
s,ilisu IN this week turned out small af-
M and a percentage OF them were
",ie failures. The RalstOn farm test
WV drilled by the Frazier Brothers.
lIlap' was the most important ad-
.luced well drilled here this week. II
tN wen located. and ought 10 have
Esh producer but II wasn't. and the
stht were badly fooled. Among others
w ueW blanks here this week may be
r,,,iHA'ned Or. ]. ". Boreland, Of Mead
r..e; the henry and Mcdonald OIL
laay. 49,
considerable speculation has been in
S,ged 10 as the result OF the advanced
Ns arilllng In the Sugar Lake pool. in
aElof1 county. Pa. These have all
~ completed, and not producer out
:. VI lHl was found Sugar Lake as
a VI pool doesn't amount to much, al
SIuEh away from home the field has
, ,r9ea quito a reputation. The wrl-
al /. thoroughly vcrsed In the territory.
w. ne. 'ne only advice to offer to the south
~ producers and others contemplat
Ia" Iestmenls In this field. is, Sugar
~. territory is a good thing IN let
t,,,,, The wells are small. and the
rs.,,ury y spotted and treacherous. A
~. I W, direct from tho wild cat well
~" ~" "eIIsyille, N. Y, 70 the wrlYter
ssri .s tnat the Johnson & Ellsworth
p Nn,ch for some time has created
/, ,, Hucn interest and excitement.
srri,a,,g''SaHy n dead failure The new
t,..ITI'- % located NJ whltesvlllc. and
arrg,, frnorted good for fifty or sixty
,r5, sis Hay This spurious report was
gIgr, "roal"nst throughout tho Oh re-
5iT t.., causing many old producers from
't-II Hsn'lUUr 10 vtgtt ~, .,.1u ~