The Sunday telegram. [volume] (Clarksburg, W. Va.) 1914-1927, 1916-03-19
OIL AND GAS
DEVELOPMENT
OF TRI-STATE
Latest Reports of Operations in
West Virginia, PennsN-
vania and Ohio.

! VdIlId dIH UIlIUs
The advance in The credit balance
market was the feature Of the week
in the eastern fields II came on Fri
day morning when the Joseph Seep
purchasing agency advanced the quot
! alton for crude nf the Pennsylvania
grade from $3.50 tn ECO Il barrel.
The advance was not unexpected Tor
the reason that all grades Of western
crude had been advanced since eastern
crude had been moved up. For some
time the western markets have been
taking the initiative and the East fol-
| lowing Now thai the market has
passed The $3.50 mark there are all
| kinds Of cOnjcCturca as tn how much
I higher IL will go hClOr" it reaches the
top. Where tie subject is discussed.
81 Is most frequently mentioned as the
| probable high point. II has been al
most twcnty-Onc years since The credit
balance market registered $50 and
then only for day when il rccrdcd
to $2.A0. A few months previous to
the phenomenal ris In 1898, the Scep
purchasing agency posted notices that
il would no longer recognize the spec
ulativG market in the price II would
pay for crude and in the future base
lis quotation on what the markets OF
the world would command. For a
very brief period there was great ri
valry ns to which could ont bid. The
exchanges or the purchasing agency.
The struggle was OF short duration
and The purchasing agency won and
since that time there has been no spec
ulAiiVc market.
Producers found the. new method
satisfactory and The fluctuations Of the
crude market during the intervening
years have been governed generally
by the laws Of supply and demand.
The present advance in the market
can be attributed to the increasing
consumption and the decline in the old
fields. What was once considered by
prOducts--gasoline in=pnrticular-
have come TO a point. owing To IN
creased cOnsumptIOn2fh the avail
able supply is no longer equal tn
meet the demand Once all foreign
markets are accessible the demand
will be increased and the outlook for
a long period OF prosperity Is ahead
of the oil producer in the United
States.
Field Developments.
Interest in field developments has
been revived since the advance In the
market and operators are keeping
close watch on new discoveries. The
work at tho present time is located for
the most part in the old district and
the competitions at the end of the week
were not of the kind to cause much
comment. In the Berea grit pool in
Cabin creek district Kanawha county.
w. Va, the Columbus Producing Com
pany is drilling test on the r. l.. Me-
Coal Company's tract through the
sand and it is natural producer good
for fifty barrels day. The wells in
this territory are not at their best
until after they have been shot. The
location of No. IL OH the Williams
Coal tract is 1900 feet southeast of
No. | and adds some width TO the pro-
ducing limits OF the development
In Central district. DnddrIdge coun-
~, the Hope Natural Gas Company
drilled M. on the Tobias Moore farm
through the Big Iniun sand and found
1t barren On Turtle creek, located
one and One-half miles southwest of
neweytnwn, Union district. Harrison
county. the South Penn Oil Cnmpany's
No. 3 OH the j. w. Day farm was shot
in the fifth sand and shows very light.
The Gordon sand when drilled through
showed some oil and will probably be
given shot in that formation and
from both levels make light pumpor.
buster In brooke County.
In the Beech Bottom district, Brooke
county. Collins and Company drilled
No. 4 ON the Hartley farm through the
E3eroa grit and found nothing. In the
same district, the Jefferson Glass Com
pany is drilling Il test on the r. l.. Nc
Nab farm Across the line in Hancock
county. the lIoOten Oil Company is
starting a lest on the Mary NJ. Aiken
farm.
On Elk creek, Hackers Creek dis
trict. Lewis county. The Ciarksburg
Light and Heat Company drilled its
No. 12S. located on The Il. T.. and n. a.
Shuttleworth farm through the fifth
sand and has fair gasser. On Pole
Cat run, Union district. Harrison cnun-
ty. the Hope Natural Gas Company
had the same kind Of luck at test
OIL the j. Z. Barnett farm. On Bling
anon creek. Eagle district. the same
company has drilled test on the
Robert Borgess. farm into the fifth
sand and has show of oil.
Drilling Nnl Starting Tests.
| At time when the market Is adj
vancing there Is always more or less
interest conferred in test wells drilling
and starting. AT the present time the
/ discovery Of new producing territory
is greatly desired on the West Fork
river. Union district. Harrison county.
7 the Clarksburg Light and Heat COM
/ pany has started to drill a test OF the
4 G.. Il. Davisson farm. On Rock Camp
/ run. Sardis district. ID. j. Carter and
Company are rigging up ON the Della
I BogEess farm. On Tcnmile creek.
Parrish and Grove have started a sec
ond test on the ". E. Allen farm. On
the West Fork river. Union district.
the Fisher Oil Company is drilling 40.
\ 3 on the s. H. Perrine farm. On Ten
mile creek. sardIs district, G. j.. Treat
IL due in the sand Mt No. s on the NJ
p. bye farm. On Halls run, TenmlIe
district, Carter. Sheets and Jarvis
have the rig completed for second
test on tho William Jarvis farm.
On Hackers creek in Hackers
Greek district, Lewis county. the Cen.
trail Gas Company is due in the Gordon