The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-01-28
GOOD WINTER SHOWING
INDIANA OIL PRODUCTION In Ex-
CESS OF SEASONS AVERAGE.
Only n Small Decrease i'm New Work
ties-Comparative Statistics.
pecial to the Indianapolis Journal.


month of January 1s7 wells were completed
in the Indiana oil field. OF this number
but thirty-six failed to produce the crude
product The output of the producing
wells for the month is 1880 barrels, or an
average per well per day of eighteen bar
rels. This is considered phenomenal aver
age for wells completed during a winter
month. This is only a slight decrease in
completed work, taking into consideration
the season of the year. January shows
only twenty-five less completed wells than
December. In new production there Is a
decrease of $50 barrels. and in dry holes
there are twelve less than in December.
Casing and material were taken from
thirty-nine old wells They have been
abandoned and the material moved to new
locations. February starts with a bright
outlook, as there are 40 wells drilling and
seventy-three rigs ready for the drill. This
is drop of one in new work. This shows
that the great oil gusher in Texas has not
had the expected effect upon the producing
fraternity Of this great oil State. While
the market went down a few cents after
the completion of the gusher, it is evident
that the cut was made for another pur-
pose than on account of the big well. Many
are of opinion that too much oil was
being held in the lines of the various oil
operators and that the Indiana pipe line
only wanted to shake them up and make
them sell. The master stroke made by the
pipe line company had the desired effect,
as many thousands of barrels of oil have
been sold which, for months, have beer
chalked up as credit balances, which, at
the close of December, were the largest in
the history of the Trenton rock fields. The
credit balances at that time amounted to
over 1900, 900 barrels, and it can be said that
when the pipe line reports for January
are published the credit balances will be
less than 100000. About a hundred differ
ent oil men from the Indiana and Ohio
fields went to the scene of the Texas
gusher, but they will hardly invest there.
as land has taken big jump, and leases
several miles from the we'll are held at
bonus Of SO an acre, while a month be-
fore the well was completed the land
could have been bought in fee for less than
SIS an acre.
Considerable interest is being taken in the
new field northeast from Geneva. The Su-
perior Oil Company has struck good lead
in the Tumbleson farm. in the southwest
corner of Blue Creek township, Adams
county. and about five miles west from the
Dudgeon farm, where the Ohio Oil Com
".
The first well drilled by the Superior Com
pany is doing 100 barrels day and the
second one is producing thirty-five barrels.
The Ohio Oil Company's first well ON the
Dudgeon farm is still producing about
forty barrels day. and is one of the
most prominent wells in the field.
Some work is doing in the new field near
Hartford City, and If the operators were
allowed to drill without danger of getting
into trouble on account of waste gas it
would develop into very prominent oil
field East of Muncie arrangements be-
ing made for good seasons campaign and
the outlook Is for the opening up Of very
satisfactory field in Delaware and Ran
dolph counties. Several years ago little
oil was found while drilling for gas near
Winchester, and several test wells will
be drilled there the coming summer If the
markets do not decline too much.
The wells drilled so far in Martin and
to encourage a great amount of work.
Out of at least twenty wells drilled only
three or four oil producers. Several
of them are light gas wells. The majority
Of the test wells drilled in that vicinity
are owned by James NJ. Guffey. one of the
owners of the Texas gusher. He probably
will devote his entire attention to the Texas
field and stop validating in the vicinity of
Loogootee. Operations in Wells county are
not as active as they might be, but opera
tors are doing some work. which signifies
that they would do more in the older pro-
ducng territory If they knew just how
we'll the market price of the product would
remain. The Huntington county field is
gradually widening and the coming spring
should show big increase in operations.
Warren is alive with oil people, ready to
capture any production that can be bought
at fair figure. The Indiana production
is commanding about $500 barrel for good
settled production. That is an old lease
doing ten barrels day, and four or five
wells upon II, is worth about 5000. Very
few oil men can afford to sell good produc-
ton at those figures, especially If they ex-
pect to remain in the oil business 1t is
said that the Ohio Oil Company, the pro-
ducing branch of the Standard Oil Com
pany, is in the field again TO purchase pro-
duction, and that 1t is trying to gobble up
everything in sight that looks good. which
shows that il is not much scared over the
Texas gusher. The new shallow sand field
in Jasper county would be the point for
making money, had the field only a pipe
line so that the oil could be marketed to
advantage, but as 1t is the oil is shipped
by tank cars at an increased expense. This
territory is pretty we'll under the command
of the Bird syndicate, which purchased
the main producing properties there a year
or so ago. The oil is of a heavy gravity
and is what is known as a natural lubri-
cant without going through the process of
refining. but the grit is taken out of the
product by passing through warm water.
The following tables give comparison
of the operations for the months of jan
uary and December: