Tulsa daily world. [volume] (Tulsa, Indian Territory [Okla.]) 1905-1919, 1912-11-13

become an adaRe that no part OF OK
lahoma is without ITS mineral wealth.
There is room here for both the small
and the large operator. To the hut'h
ia tho Chelsea field where the ot-
bearing sand is found at 900 feet
and where % barrel producer can
be equipped for $1,000. TO INC
south is the new Cushing fell
where the oil-hearing sand ts foubd
et . 900 feet, and where 400 barrel
well. because OF the treacherouS
chara cter Of the formation, costs APP
proximately $4,000.
There are from four to six OIL
bearing sands TO be found in the OK
lahoma field. These sands vary In
thickness from ~ feet in the HAM
llton Switch pool to so feet In ,ho
Glenn pool The cost of drilling and
operating also varies with the local
Is In which the work is done. Tor
example, well In the Chelsea pool
at depth OF 600 feet can be com
pleted for $500, while well In the
new Gushing field at a depth OF
| $50 feet costs approximately $4,000,
due. as has been said, to the trcach-
erous character of the formation.
Roughly stated, however, the average
cost of drilling and equipping wei,
is 1000 thousand feet or 81 y
foot The cost Of a well, therefore,
depends upon the depth OF that wen.
In the Oklahoma field, properties
arc drilled on the most economical
basis. on the average OF one well to
every four acres OF lease.
After the first well is drilled in on
lease the sales OF oil from this VIII
are usually considered sufficient TO
pay the expense of drilling. the neNt
well. II will therefore be realized
that the initial expense of the first
well is all that is necessary TO dcvel-
op a Z reat property. one need no.
leave Tulsa for examples Of great
riches gathered i'm short space 81
time and In this city, fortunes from
oil are the rule rather than the OK
c,ptlon, foc SO per cent of those Who
have drilled have been successful
The gr0ltest fortunes have be'u
made hy>thosc who struck out ahcaI
of the proven production and It's high
price per acre. and gathering up
hundreds of acres in the trend ot
production. drilled their wells and
found bis producing territory oi
which they own practically all.
Three great pipe lines carry the
greater part Of Oklahoma's crude
oil production TO the worlds mar
kets. and those, with IA score ~ re.
fineries located in almost every oil
town iu the state. make n strong
market for the sale Of the produrt
The price Of crude oil is now 90
cents n barrel twice the market
price OF three wears ago and Il g.
steadily going upward. due 20 IN,
worlds Increasing demand. which
far exceeds the supply.
The price Of acreage depends upo1
the nearness to production and the
size of the nearest producing we'll
The cost varies from 81 an acre foi
leases from three TO five miles frori
proe1ction. to s1O0 an acre for leasas
adjoining oll-produclng territory.
The leases are sold by those who
hold title TO the land In fee simple
The leases provide for royalty OF
one-tenth to one-sixth. free from al
expense. must be paid by the lessee
TO the owner OF the land In addition
TO the bonus price paid for the
acreage. The leases usually provlir
that upon fulflllment of the condl-
tions imposed. the lessee shall have