Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1902-12-04
OIL DEVELOPMENT.

too long kept at lower level than
conditions at ,any time within the
past year warranted. The advance
from $I22 to las Is not causing
any great rush of operations and in
no particular locality Is there
notable increase In production as a
result of increased operations.
The deep Gordon sand territory
Is furnishing some good wells but
the cost Is too great to enable any
one to derive great profit. The
busy wildcatter Is "t work but be
Is always at work and conducts his
campaign on hope.
It Is fact that much Of the drill
Ing done during the past year in all
classes of territory was done IN hope.
The hope that from some cause
or for so Ae reason "prices justified
In the markets of the world"
according to the promise of
Joseph Seep made some sew
EN- Years ago would be realiz d
has kept many an oil producer at
work Wien his production would
not In years pay the debt.
1t Is strange fact that so many
men labor under the haliucination
that they can beat man at bis own
game. The oil producers labor un-
der the hallucination that they can
beat the game that the Standard OIL
Company expects them to play on
the promise to "pay prices justified
In the markets Of the world" The
November field operations, while
increasing slightly, WIRE not sutti-
Client to hold production Con-
dlllonS have been LII ST favor
able for drilling and 1t is only
a lew DAYS 10 bad roads, cold wealth
er and unfavorable conditions theD
absence of new pools what can SOP
turtber decline In produclio !
The TWO and three cen, advance
from time 20 time do not count fsr
much in the face Of the very BIZ
l,,h conditions and large margins
In refined products About the only
hope FIR the Gil uroducer is TO be
come interested In the pipe lin,
and refining business unless
conditions change.
The Colum bia Oh and Ca Co,
of East Liverpool. Ohio, has been
organic d under the State laws OF
Delaware, with capitalization o
$500, 600. The new concern has
taken over the producing proper
ties of Keegan & Smith in the
Jackson Ridge fields In Monroe
county, Oh o, and the Turkeyloo
field, In Beaver county That In
first named field consists of leases
on SIS acres. on which are eight
producing wells and o complete d
rigs, with a net production OF 70
barrels a day. All Keeuer sand
production. Their holdings In TIE
ru keyfoot field consists OF leases
Gu go acres, with eight producing
wells and a net production of SIS
barrels day. The price paid 70,
the whole was 100000. There is
room for about forty locations on
the two properties.
The Columbia Oil and Gas com
pany Is differed by Est Liverpool
capitalists. Charles A Smith,
president; Joseph E Keegan, vice
president and general manager; w.
L. Smith, treasurer; and J E. Nc
Donald, secretary. The company
will begin active Developments at
once on the property acquired.
In the Ben's Run district, Pleas
ants county. Schlagel & Fried have
drilled their No. on the W. F.
Johnson farm through the Big 10
Jun sand and have buster.
In the Eim Run district, Richie
county, the Buck Oil company has
drilled In his No 7 on the E. Buck
farm and has a show for a rs barrel
producer In the salt sand
In the Burning Springs district,
Writ county, the Bridgewater Gas
company has completed No. E on
the L Howell farm and has aIo