The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1916-04-03
Oil and Gas.

Development work in the Eastern
fields during the early part OF the
week was almost featureless and show
ed no Improvement at the close. With
no thrills In the way of new discover
les and. the markt stationary there was
less interest than at any time for a
number Of weeks. Operators r grow.
ing impatient to start new work and
only the scarcity of producing terri
tory prevents from starting at once.
The advent OF spring weather inspires
the desire to resume operations and
the old districts will be the first to
receive attention. The desire for ney
production Is accentuated by the high
market for crude and operators will
not hesitate to go after a source OF
new production when the conditions
are favorable. New work Is starting
in the old districts and the prelimt-
narfes for more under way. The year
promises to be one of unusual activity.
The old fields will be drilled wherever
there 10 q location. Light wells will
be tho result of this kind Of work and
frequently the production derived from
old wells In the immediate locality.
Owing to the scarcity Of new pro
ducing territory, producers r hold
ing on to their properties and few are
offered for sale. Those who express
a willingness to part with their pro-
perties have fixed a price so high that
a would.be purchaser will not consider
1t. Very little settled production is
offered at less than 81, 600 a barrel and
in some localities the asking price
is above $4,000. The value placed On
old producing properties is now high.
er than at any time in the history OF
the industry. The cause can be attrl'
buted to two things. the bright future
OF the business was never so bright,
owing to the increasing demand fol
crude and the scarcity of new produc'
ing territory. The producer IS aware
of the fact that he would be at a loss
to know where to ecu another pro-
perty and that would presage his re
tirement. Those who have operated in
the Eastern fields are not inclined to
try conclusions in the West and that
seems to b. the most promising sec
ton.
In the West Virginia fields the
Loudenville Oil company has compile
| ted its initial test we'll on the B. L.
| Parsons farm, Liberty district. Mar
shall county, and has a 25.barrel a day
| producer In the Gordon sand.
In Elk district, Kanawfa county,
the South Penn Oil company is drill
ing in the sand at its w. A. McCor'
kle farm No. s well and 1t is showing
for better than a 100.barret producer.
The West Virginia Oil company has
completed its Initial test we'll on the
Gerwfg farm, in otter district, Brax'
ton county, and has a 10.barrel a day
rom the salt sand.
The Hope Natural Gas company
has completed its third test we'll on the
Harriet Lowther farm located In I'm
ion district Harrison county, and has
a 30-barrel a day pumper from the Cor.
don sand. This well made an initial
flow Of so barrels after striking the
pay.
Gas company has completed its sec
ond test on the A. G. Moore farm and
has a five.barrel pumper in the Cor
don sand.
In Central district, Doddridge coun-
ty, the Hope Natural Gas company has
! completed its second test on the l.
NJ. Pitts farm and has a good gasser
from the Big 1njun sand. This well
is 900 feet northwest of the same COM
pany's initial test on this farm
In Grant district, Hancock county,
near the Moscow field, the Hooten Oil
company has completed its initial test
we'll on the Mary NJ. Aiken farm
through the Berea grit and 4. is a dry
hole.
On the waters Of Frozen Camp, in
Curtis district, Roane county, the Uni.
ted Fuel Gas company has completed
its initial test we'll on the tsewart Nc,
Cready farm and has a good gasser.
The Philadelphia Gas company has
completed It's we'll on the Mary NJ
Sperry farm on the waters Of Meat
House creek, in Greenbrier district,
Doddridge county, and has a fair gas
ser in the Big 1njun sand.