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

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Another significant tact In ihi7
connection is mat while east % N"
Mississippi river the average oil Wei
has produced bat 22.3 barrels ~ ol
q day, The Nells VI the country Nort
Of the MlssissippI have produced IN
average ~ 2e,s barroi- dny. Thi'
difference m BNcragc seems small 10
the person not acquainted with OH
but figured for each day ~ ihc retr.
and extending over "a long period ~
tims Tho result II startling whom
measured either In barrels or d0lla's
and cents. Especially is this n thing
that appeals strongly To tho Oh oper-
htoT when Il is assured that the trend
ia oil h toward less oil ana higher
prices, with the exception ~ the Mid
Continent field. Whoro the produc-
tlon la 1871 exceeded that ~ The
year before By 5.sSJ.5j7 barrels, yet
where the price OF crude oil advunc-
cd from 80 cents q barrel IN 1909 a.
20 cents % barrel In the year 1919,
with every indication Tor further
advance before the close Of the year.
The Mid.Contnent oil Held IN
1sll produced 59,J32.s5O barrels "a
Oh. or grand total since develop
ment first began here of 297.O6G,SNe
barrels only one state ont of NJ
4s produced more OH In 1871 than
did oklahoma, which was CallfornN, /
which state produced 13,0l0,56O bar /
rely. The men who hayo dIillpl
these wells In oklahoma received tho
enormous sum of nearly fifty mil .
lions of dollars
The cost Of operation In the Okla /
homa OH field, because ~ natural ed |
vnutnRes. Is less than In any other !
field IN the world. Win natural pas /
ns "a fuel, with numborlcss small /
streams furnishing an abundance oi /
water. with oil well supply houses |
now located practically at every (
crossroads with an abundance or ,
skilled labor, with the OH distr',5
virtually one great plain. and lastly. .
with 800 days Of sunshine year n
and year out oklahoma is the near .
est Utopia that the oil man has 'ut .
fouud
II was i'm the year Of 1909 that
Robert Galbreath, the pioneer pros
pcctor for oil In oklahoma. made his .
last stand at what Is now the town
OF Glenn Pool, on the edge ~ the .
famous oil pool Of that name. Whon .
J 800 feet down. Galbrcath's iacn
Wit work. u was only hv horculelu
efforts that he succeeded in raising
the necessary money with which to
complete the work. Less than 800 .
feet further. the drill sank into the
sand and n gusher, tho
equal II which had never been found
west Of the Mississippi river, was de
veiopod. One. two and three thans-
and barrel wells were the rule. and
fortunes were made over night with
the result that Galbreath became
rich.
In the development OF this great
field, the enormous production flood
ed the market and forced down the
price OF crude oil to 30 cents a bar
rel and the product was refused even
AT that price by the great pipe line
companies. with the coming OF /
gasoline driven machinery and with
a lessrning production OF oil in the
Older fields, the price rallied until il
Is now 20 cents a barrel. with the
prospects OF dollar a barrel within
the next six months
Leases in the Glenn Pool. once 10
he bought for song, are now worth
from $1,000 to $1,000 an acre. The
profits in this pool are enormous.
This is easily apparent when 1t is
realized that the cost OF raising the
oil to tho tank FOR marketing pur-
poses is but seven cents barrel.
while the market prices is ten times
as much.
Other and smaller pools within n
radius Of 90 miles OF Glenn PoJlE
have been discovered In fact. it has
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