West Virginia daily oil review. [volume] (Sistersville, W. Va.) 1894-1902, 1902-05-12
BEAUMONT OIL FIELD.


Price of OIL Advances.
Specials In the New York Com
mercial from Beaumont, Texas con
tain the following information.
The shipments of oil from Beau
mont during the past month az
gregated 5000 cars. This Is the
largest total for any month up to
the present time, and It Is now
thought the increased facilities for
handling the oil will show an i'm.
provement in the amount shipped
each month hereafter.
One of the most important devel-
opments of the month was the tor
nation of plans for building three
more pipe lines to Port Arthur and
Sabine Pass. Two of these will be
under the control OF G A. Burt Re
6ning company, and The other BE-
longs to the Lone Star ard Cres-
cent Oh company, when completed.
The pip lines which will be con
structed for the Burt company will
be the first pipe lines In Texas con
structed for the purpose of carrying
refined oil.
Validating around Beaumont
has almost ceased. The well known
as the Treadway, northeast of the
proved field Is about the only well
of this character on which work Is
still being pushed. But little Is
known in regard to developments
at this well, except that is has
reached a great depth.
During the last few days the
price of crude oil has been per-
sistently bulled,and 1t now Is likely
to overshadow the oil stock market,
which still remains In the hands of
the bears. The advance seems to
gather momentum as 1t continues,
and If the present rate of progress
Is maintained there will soon be no
excuse for the outcry against sell
Ing oil too cheaply.
One of the largest companies
operating In the field has been
taking all of the cheap oil offered,
and now has immense quantities
contracted for. This puts 1t In
excellent shape, and promises
handsome earnings for the future
For merly the price received at
the wells was only 3 cents a barrel,
but recently this price was increased
to q cents, which, while nominally
small, will add considerably to the
revenues of the companies. Many
companies are holding the product
of their gushers at 20 cents barrel,
while there are only a few who will
now contract for delivery at the low
price of d cents. 1t Is considered
only a question of a short time
until the oil will be worth IS to so
cents barrel f. o. b. tank cars at
Beaumont.
The prospects are that there will
shortly be a large number of drill
Ing outfits as we'll as workmen.
idle In Beaumont. Up to the pres
ent the drillers have had every
thing their own way, so far as OBJ
tanning contracts Is concerned, but
now that their Is a lull In making
contracts for wells on Spindle Top,
1t Is more than likely that mum
Der of them will be thrown out of
employment.
A part of the men who have up
to the present time been engaged
In sinking wells find employment
at the various pumping stations
that will be established In the near
future by the various pipe line COM
panies, and others will 60 to new
fields where prospecting Is now be
ing carried on. 1t Is quite probable,
however. that large number of
the drillers will leave Beaumont, or
else choose other trades. Quite a
number of men who have been In
the field since Its discovery have
already left for other parts, some
having moved to Sour Lake and
others In various parts of Texas