Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-08-15
CONCERNING THE
QUINTO OIL COMPANY

recently incorporated under the
laws OF West Virginia by FIVE pract
ical. thorough and honorable oil
men of this city and Sistersville foi
the sole purpose of securing
sufficient capital to develop theii
large lease holds In Richie. Writ
and Roane counties proftably and
satisfactorily.
To the uninitlated, who holds the
idea the oil business Is all profit land
no considerable capital Is required
to develop a leasehold, few wo rds
of explanation will not be out Of
place. It takes a vast amount
of money to drill medium
sized wells rapidly and equip them:
It Is after the drilling Is all
done that the large profits
and small expenses accure.
! When we'll Is drilled and equip
ped 1t must be paid for before 1t
produces oil sufficient to pay for
| it's self. And when large mum
Der of wells are required to be drill
in order to protect farm lines, 1t
Is readily seen why large amount
of ready money Is absolutely neces.
sary to properly and proftably con-
duct operations.
Joseph A. Kennedy, of Sisters
Vile; F. A. Lawrence and J.. Z.
Griffith, of this city, together with
gentlemen named SNYDER secured
lease on Wolfe Pen, Richie
county on which they, last fall,
drilled Keener sand well. They
continued drilling until eight wells
were completed averaging. from IS
to 50 barrels each daily at the time
of their completion. They are men
of moderate means and were not
able to develope the property as
was required and at the same time
repay monies borrowed from time
to time as operations made neces'
sary. Realizing and fully appreciat.
Ing the value of the property, and
being 10th to part from 1t, and
being DESTROYS Of retaining an In
terest, they decided to purchase the
interests of Mr.. Snyder In the
partnership and form a stock COM
pany instead. Accordingly this plan
was accomplished, and the eight
wells with production of 100 bar.
rels was turned over as an asset Of
the company at $4,000, together
with 5000 acres of the most likely
territory In Writ county at $40 600.
Either of these properties will
briog several thousand dollars more
than the company was required to
paw for them.
The 5000 acre tract Is situated
on the great Volcanic Break" In
the counties of Writ and Roaue,
beginning at the Little Kanawha
river about two miles South of the
wonderful Burning Springs spool"
and running thence South In an
unbroken tract for eight miles and
terminating In Roane county.
This vast body of territory Is
watered throughout by two fine
streams, and bordering as 1t does on
the Kanavha river, and directly on
the route of the Wabash railroad,
makes 1t very available for opera
tons aud development.
II the reader will trace on his
map a direc line, beginning with
the old Belmont Field" on the
Ohio river, noted tor It's great pro.
duciug wells fifteen years ago, and
continue the tracing south about
10 degrees west In direct line of
the Volcano break and passing
through the once famous Horse
Neck" pool, petroleum" Cali.
fornia House" "Oll Rock, %" Stand.
Ing Stone" ands last but not least,
through Burning Spring" which
was enjoying an soil boom" that
was world wide In 1860 and yet oil
Is still being produced, and paying
wells are still being drilled every
mouth In the year iu this field.
BY following the tracing farther
south you will observe that the line
passes directly through the vas,
body of territory owned by the
Quinto OIL company.
But very little prospecting ha:
ever been done for oil in this d.
rection south of the Little Kama