Wauwatosa news. [volume] (Wauwatosa, Wis.) 1900-1948, 1903-10-24
GREATEST OIL FIELD.
CoaIinga Leads, Not Only All Other Cali
fornia Districts, but the World.

fOrnia Districts, but the Wofld.
In a recent issue of the Pacific Oil Re
porter, the Coalinga district. California,
is pronounced the greatest oil field in the
world. This publication points out that
the Coalinga field surpasses all Others
in the following respects:
L. In the extent Of proven territory;
> The wide range In GRANTEES OF on
produced aud their value;
3 In the proven capacity OF the welis
drilled;
i. In the economy Of the drilling opera
tions;
}. In the cost of production. and
q. In tine probable life Of the fed.
The average daily production of
Coalinga well is 22J barrels Sour Lake,
in Texas, alone exceeds this, but Sour
Lake is n district of gushers, where the
wells spout furiOusiy for time and
then diminish in flow, precisely as ut
Beaumont. where the wells have now
ceased gushing altogether Coalinga
wells, on the other hand, produce steadi-
ly, year III and year out, with the fur
ther advantage that COalinga oil brings
Il much higher price than the Texas
product. The geological formation in
Coalinga indicates long life Of produc
ton. The oil sands are deep and prolific
and water gives no trouble. Now that
the Standard Oil company's pipe line
connects the field directly with the coast
there is no trouble about transportation
and the development of Coahnga is pro-
ceeding much more rapidly than was the
case when tank cars had to be depend
cd on.
Fortunately for the district and for
those who have invested money there,
C0alinga has never had one Of those
booms, productive of get-rich-quick com
panies, which have been n blight upon
the oil industry in certain localities The
field has been developed in a legitimate
way and the careful watch kept by the
Pacific Coast Petroleum Miners asso-
citation has made il practically impossible
for fake companies to operate in this
territory. The result has been a steady
increase in the value Of proven oil lands
and corresponding increase in the rev
enue derived from the wells.
Milwaukee is not without interest in
Coalinga, for the FL Canitan Oil com.
pany of this city operates in that field
The annual meeting Of this company will
shortly be held at the c0mpany's office
in the Pabst building, and the reports to
be made will be of a nature gratifying
to the stockholders. The FL Captain
wells are reliable producers and the oil
which they yield is Of high grade. IN
the Coaliuga field various grades Of
petroleum are found, ranging in specific
gravity from II degrees Baume to "a
degrees, III Captain oil is % degrees.
which brings it very nearly up TO the
highest grade ever produced in the field
\ new well will soon he completed by
the FL Captain company. and as il is
being drilled to the second sands. which
on neighhoring proncrties have proven
much richer than the first, or upper
sands. this well is expected to add great
ly to the output. The FL Captain prop
ertv consists of sixty-six acres. in the
very heart Of the most productive part
OF Coalinda. Both on the property and
every side of il are producing wells.
The hi Captain company is Differed
by Milwaukee men ana was financed
here. The stock first offered at - cents
per share, advanced to $50, and has
been practically withdrawn from the
market. There is now very little for sale
Mt any price. All COalinga stocks are
strong. Shares OF the Section Twenty
eight company, Il near neighbor of the
III Captain and the possessor of prop
crty no more valuable than that of the
III Captain company, are quoted at
81 20. The Hanford company's shares
are held Mt S1i0.
In short time a party of Milwaukee
stockholders will go to California to in
spect the El Captain property. David
Dickson of this city is president of the
company and his son, Robert Dickson.
is superintendent.