Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1902-10-20

Lacy. 20
The advance IL he credit balance
msrxet at the present time IS at
tracing more attention than de-
velopments In the field and Is OF
vastly more importance To pro-
ducers than new discoveries All
share in the Increased market value
of tn better grade of crude, while
the few profits by the discovery OF
new pos The quotation posted
last THURSDAY 81 80 for Pennsylva
MA credit balances added TO the
previous advances. makes differ
eace of $50 on the 1000 barrels
and this means much To the oil pro
Queer who has been woi king hts
little bumpers during the many
months of development. The
higher market PLACES a new
value on settled pro iuctIon Ia the
old fields and will stimulate the
search for new producing territory
In ali of the lower southwest. 1t
must not be understood. however,
that the market In its ascendenCy
h IS reached the limit that will make
1t p )ssi5le to stop the heavy drain
on the stocks In the storage tanks
throughout the Oaio. Indiana aud
eastern fields. With the demand
for high grade crude unchanged.
no matter what he market price of
credit balances may be, 1t is on a
plain question whether or not the
incentive will be such as to suppo t
the deficiency.
Peasants Co.. WA.
In the Big Kuot field. Mallory
Bros & Co have drilled In and
shot their No 6 on the John Free.
land farm aud the we'll made 100
b rrels The first "a hours.
fbe production Of the Big Knot
p 'ol AS shown by the last gauge
with ID wells reported. producing
o or more barrels day, was l.
SEQ barrels, divided as follows
Mallory Bros & Co John Freeland
farm, S wells, SIS barrels; Three
Joes OH company, Eiroy Wagner
and Gorrell farm, S wells, SIS, bar
rel>; Hal, Browse & Z.nniSer
Weekly hsifs' farm. wells 225
barrels, ard tbe Drillers OIL com
pany and the South Penn on com
pury one ~ei each on the George
Ryan and Morgan Hemworth farms
100 barrels spectively. Only
three wells In the Dol have an indi-
vidual production of more than 100
barrels per day.
Eimuuds & Schauwecker have
drilled in their No. I on the Sheets
farm, n ear Salama, and have a 10
barrel we'll Ia the Cow run sand.
% Ben's run, the South Penn
Oh company has drilled In Its No.
d on the A H Wells falm and are
reported To have I6) barrel we'll
IN the Cow run sand.
Sch gel & Ffied have lister
IL IN. Cow ,nn sand at their No IL
~ h Rrbecca Way farm
The "a ne company have drilled
N ,neir No. 3 on the Mary Masset
farm, aud has 10 barrel producer
III the Cow run sand.
Near Calcutta, the Central Oh
CT mpany has drilled In It's No rs
on The James Rev nolds farm aud
mas a 10 barrel pumper in the Cow
lun sand.
The Emerson OH company OF
Pntsburg nov has control of the
Cooke farm on French creek, hav
ing purchs "a it from Johnson &
Selden. We understand the puy-
chase price Was in the neighbor-
hood of $4,000. The lease con
tains 324 acres and has ten produc-
Ing wells with a production OF 20
barrels day The new owners
will fully develop the territory
Near this city, Schaffer & Co are
dilling at their No. on the c. ".
Bills farm. No. is making about
p barrels per day
The Blyson Oh company shot
their No. I on the S Ba1kwill farm.
back of the court house Monday
In the "Squaw" sand, and the we'll
showed up very nicely. 1t is 5000
for about barrels.
TIE United States Oil company is
drilling at No 5 on the Sol. Bills
farm
Batkwel & Gallaher have. Fl ,h-
t,,o oh ar rhotr NJ O.Ho