Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1902-11-07
OCTOBER OPERATIONS
IN CALIFORNIA FIELDS
Operations Continue on a Very Contrac-
ted Basis, but Prices are Begin
ming to Scale Upward,

| So far as the field work Is con-
cerned the industry during the
? month of October was merely a
continuation along the general line
/ followed In September. In wells
completed and new productionAt'
was practically even during the two
months, and while number OF pew
rigs have gone up during the month
lust ended there, has been shown a
slight decline In the number OF drill
ling wells. AS Ia matter of fact how.
ever, there Is a vast number OF rigs
mp In the larger fields, and when
the time Is ripe for active work the
revival will be sudden and on a
wholesale scale. The question as
to how near that time may be has
a very decided interest for the oper-
ators at the present time, and most
of them are rs unit In answering
it.
In the last monthly report the
Herald reverted to the Iact that
prices were stifening all along the
line. During the month that has
interviewed prices have not only
been maintained, but are still tend.
Ing upward, with the steady
strength that promises permanence.
Locally oil Is selling at sixty cents
at The tanks, and what surplus Is on
hand Is being overtakeu at the rate
of about $4,000 barrels a month.
The same story holds good else
where, for although difficulties be-
set the Kern river field, a good deal
of that oil has been and IS being
tie. up on contract at satisfactory
prices. The ten and fifteen cent
bugaboo continues 10 be exploited,
and without some cheap oil IS being
picked up IN the local field, but the
development and progress OF field
cannot be gagged by the actions of
d small minority who by their cir
cumstances are prevented from
adopting the best methods In mar
Iketing the product.
| A great deal Of attention Is being
given to the new oil field opening
out from Los Alamos valley north
ward and large tracts of land have
recently changed hands and will be
exploited later. Indeed within the
last few days 1t has been currently
reported that changes were soon to
take place In the Western Union
company and that the sale OF the
entire property was on the tapis.
Certain, It is that capital has been
invested largely In the territory Inn
mediately adjacent and so on to the
north over the line into San Luis
IOoispo county Certain develop
ments on large scale are also In
the air with regard to the Fuller
ton field, and the extension OF that
field of development work. Even
lin the remote McKittrick. Sun
Sc felds-7emote by reason OF
inadequate facilities for transporta
tion-the prices of oil lands are
held so stifTly that more than one
big offer has been calmly turned
down by operators.
There is abroad a feeling of con-
fdeuce that oil Is to be In better
demand than ever before; that
prices are to scale higher and be
maintained, and for these reasons
Operators generally are quite con-
tent to go slow. And In every
field it Is very noticeable that every
preparation has been made to en-
large upon what work IS being car.
ried on just so soon as the occasion
warrants, and on large scale
The local re6neries have been
very helpful to local operators and
the successes that have been made
in this direction promise we'll for
future One company that has dis
posed of mos of its oil locally con-
templates beginning the drilling OF
six new wells and will use a new
kind of rig. 1t Is combination
of the hydraulic and the Standard
and has been IN use In the east
with most satisfactory results
Other companies are also planning
for work on fairly large scale but
1t Is unlikely that full activity will
be resumed until the opening of
the new year.-Los Angeles Her
aid.