Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1902-11-11
OIL DEvELO pMENTS
THE OIL MARKET.

The prooucerS ano NoPeAS'o1S
allie are pleased with the turn that
the credit balance market has
taken. Producers OF crude real re
an advance of three cents In the
market value of their product dur
Ing this week, making the quota.
ton $3.50, the highest point
reached since May IS, 1900. AT
that lime the market was decltn;
Ing.
F. n. Oliphant, In the chapter
on natural gas In MineralResources
of the United States says that the
consumption of natural gas con-
tinues to increase, although the
pressure, except in the new fields
In West Virginia. has continued to
decline. The new companies or
ganized were organized with a view
chiefly of utilizing the great areas
of high pressure gas territory IN
Lewis, Harrison, Marion and Wetzel
counties of W. Virginia by the con-
struction of larger aud longer pipe
lines, so as to market this increased
production in Western Pennsylva'
MIA and Ohio. The State OF West
Virginia has for several years furn-
ished an increasing quantity OF
natural gas to Pennsylvania and
Ohio; yet there still remains under
the domes and arches of Its rugged
hills great reservoirs of 1t that
have only been sufficiently tested
by the drill to. prove their exist
ence. West Virginia has the largest
share In the pipeline increase for
the year, which amounted to 700
miles. "A few years more" says
the report, discussing conditions II,
Indiana. possibly two or three,
will see very large reduction In
the production, probably 6oor 80
per cent. No other State has parted
with this precious fuel for so little
compensation. The money received
from the sale of natural gas
was not over 60 per cent. OF
the value OF other fuel, The
quantity was fully as large as that
produced In Pennsylvania, though
Indiana received only about IS per
cent. of what was received by
Pennsylvania. West Virginia" the
account continues, els the hope OF
the future for the continued supply
of gas fuel for Pennsylvania and
Ohio"
On Sugar Creek, Meade district,
the Carter Oil Company has drilled
No. I, on the A. Smith farm
through the Big Injun sand and
has a buster.
Tommy Parks No ? at Sycamore
Valley came In last week and Is re,
ported the best we'll In the field.
The Everson OH Company and
F. L. Mooney spuddei their we'll
on the Matthew Moore farm at
Ozark Wednesday.
Carroll, Ogle & Mrs w. v. Walton
drilled In a we'll on their Parks 10
acres at Sycamore Valley last week
and have 40 barrel producer.
The Fisher OIL company has
starred rig on the Charles Briggs
20 acre tract near Merchandising
As a result rentals have gone up In
that locality.
The Unity Oil company's No. I
at Jerusalem will be due the first of
next week. The same company Is
rigging another we'll on John R.
Mann, and are having a rig built
for R. Wilson No. 2.
McFadden & Co. drilled In their
No. I on the Peter Smithberger
farm at Mari last Friday night and
have 60 barrel producer. The
we'll is on the Zwick and Fleaman
line and No. has been located
The Southern Oil company's No.
S on the Herscher farm at Syca-
more Valley Is In and making 80
barrels per day. This well adjoins
the Charley Gift farm at Mari
where the first good well was
drilled In that section of the coun-
trv