Sistersville daily oil review. [volume] (Sistersville, W. Va.) 1902-1905, 1903-08-13

cum In the various parts OF the re-
gion, but both the Pennsylvania
and Buckeye Pipe Line runs suffer
ed a decrease In July. In spite OF
the immense number of new wells
that were drilled their output was
ins efficient to offset the constantly
declining production of the old
wells. AT the same time the de-
mand, as represented by the pipe
line shipments, was considerably
decreased and the pipe line stocks
suffered but slight changes. A
small decrease, less than 500 barrels
day, was recorded In the Pennsyl'
vania stocks, while the Buckeye In.
creased little over I,2oo barrels a
day. About fifty wells every "a
hours were completed In the Penn
sylvania and Trenton rock oil fields
during July, but the results were
small and less satisfactory than for
the month preceding.
The runs for June, both In the
Eastern and Western fields, were
largely increased In June, and thus
far hold the recoid for the year.
Production and consumption were
on nearly even terms, and the net
reduction In pipe line stocks was
about 5000 barrels a day. In
Pennsylvania stocks, there was a
small increase. the supply having
been slightly In excess of the de-
mand. Wells were completed at
the rate of S. a day In June In the
Pennsylvania and Trenton rock oil
fields and the pine line runs were
increased nearly 10000 barrels a
day. At the same time the increase
In the shipments was too great to
permit any gain In the net stocks,
which continued on the down
grade. A continuance of the re-
markable activity was expected TO
bring about a largely increased
production In July, lbut these ex-
pectations failed to be realized. The
new territory that Is now being
drilled over holds out little that Is
promising In the way of gusher
strikes, and Their Is little PROBABLE
lily of any remarkable increase In
the output of high grade petroleum.
The new pools and extensions that
ale opened up from time to time
In the lower Southwest are speedily
drilled over and their effect In over.
coming the waning production of
the older sections OF the field Is
merely temporary.
There was an aggregate increase
In the stocks of the Pennsylvania
and Buckeye oil companies during.
July of "a, 17e barrels, which Is an
average of $50 barrels day. June
registered an aggregate decline of
e2,32e barrels In the stocks held
by pipe line companies. This was
at the rate of 3,o7S barrels per
diem. For May the decrease
amounted to 253,464 barrels, or
about S,176 barrels a day. n During
April the net decline In the stocks
OF Pennsylvania and Buckeye oil
amouted to 1o6,o43 barrels which
was an average decrease OF $685.
barrels a day. In March the aggre-
gate decline amounted to ISe,e25
barrels, or 6.126 barrels day.
The total decrease during February
was 156,15S barrels, while the jan
uary loss was 72o. All barrels.
At the close of 1892, the stocks
of Pennsylvania oil were 5,6e9,Ia7
barrels and the Buckeye stocks
were 1906. 426, or total of 49,
oo5,553 barrels. The Pennsylva-
MIA stocks were reduced 3,72I,294
barrels and the Buckeye 453,SSo
barrels during 1902, which was an
aggregate reduction of 4,I75.174
barrels and the heaviest loss since
the termination of the shutdown
movement In 1887. Since the first
of the year there has been an ag-
gregate drop In the net stocks of
1l4o1'154 barrels. July was the
first month of the present year to
record a gain In the net stocks of
the two fields.
The runs of Pennsylvania oil
during July were sc, ESQ barrels
day, or 8, 2co barrels less than the
average of June. The June runs
averaged 9.2S9 barrels. day,
which was 5.452 barrel above the
May average. The May pipe line
r,1pS oueraOed 80 2o1 barrels daV