The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-12-11
HIGHER PRICE FOR OIL
STIMULATES DRILLING
Much Activity in the Field, Espe-
cially in Grant, Wells and Black
ford, with Good Wells.
NOTES OF THE FIELD

Special TO the Indianapolis Journal
MONTPELIER, Ind, Dec. 10.-The pres
ent high market for oil has stimulated work
in all parts of the oil field, and many pro-
ducers are "wild-catting'' in all directions
from the producing centers. The new fields
of Princeton and New Haven. in Gibson and
Allen counties. respectively, caused some
excitement at first, but the land was
mostly leased, and the leaseholders are
awaiting Developments. Much capital
is coming into Indiana, especially from
Chicago. and so far nearly all investors
have been successful in getting producing
wells. Much local capital also is being put
into the oil business.
The Parker field is showing some good
wells. and at the same time many busters.
That field is regarded as pool as is the
Hartford City field. Between Montpelier
and the latter place many wells are being
drilled, with very good results. Washing
ton and Harrison townships. of Blackboard
county. and Jackson, Chester and Noting
ham townships, of Wells county, still hold
the attention of the conservative operators,
as almost every well is producer of fair
calibre. The Grant county field. especially
around Van Buren, and Landisville, is good.
In the vicinity of Warren, in the edge OF
Huntington county, good results are re-
ported: and in Adams county. near Berne
and Geneva there is considerable new
work which Is showing up well.
Last week there were completed in the
Indiana field loo wells, with average
daily production of 3,345 barrels. Out of the
number seventeen wells were either dry or
gasserS.
Kimbarl & Warner have sold their lease
on the Rosa Bennett eighty-acre farm to
John p. Kyle, OF st. Paul, MINI. The
lease is three and one-half miles west on
the county line. and is in the best oil terri
tory in the Indiana field. Warner & Giles
have taken a contract for drilling the lease,
and there is a rig on the ground for No. l..
All around town one can hear drilling
contractors talking of higher prices for
drilling. The price paid now is fifty cents a
foot, but the drillers think a five-cent adj
vance would be great help. All material
| is high and cuts the profits considerably.
One contractor says the contractors should
get together on a higher price and ask the
producer to pay ii. If five-cent advance
| foot well would be $50. an amount soon
| liquidated in fair producer.
The Smith-Moore Oil Company has COM
pleted a well on the Lambert farm, two
miles northwest of keystone, which is good
| for sixty-five barrels or more daily. 1t is
No. 3 on the lease.
The Simons Oil Company has good well
] on the Kershner. 1t was shot yesterday.
| Friday evening when the drill was fifty-five
| feet in the sand there was about 600 feet of
| oil in the hole.
The Central Oil Company has finished
/ two fair producers near Mt. Zion. They
/ are on the Mckee and Daulby farms. The
| company also has a well in the sand on the
/ Derry farm.
| ID. F. Sherbondy and T. c. Beemer left
4 Yesterday for Peru. Chautauqua county,
| Kansas where they have 5000 acres OF
| land under lease. They have rig up and
| will complete well as soon as possible.