The Washington herald., 1918-06-12
OKLAHOMA OIL
YIELDS LARGE
Certain Experimental Drill
ings Prove Most Prof.
table, Says Holland.

~ lew months ago The president OF
one Of the banks at Enid. Okla, was
asked by . business friend IL it was
true that he had made a venture in
oil. In reply the bank president said
that he had within a few days used
his own money to the extent OF s25,-
go in an oil drilling experience, TAX
ing a chance that the investment
would be fairly successful. With this
money he caused drilling to be be-
gun and after the drill had penetrat-
ed through the third sand level oil
gushed forth. Recently this bank
president was offered 81, ,5OO,O 600 for this
we'll
\ company was organized a year
ago by a group of Western men Of
high character and of financial re-
sponsihility for the purpose OF de-
veloping. IL il were possible to de-
velop. oil properties in a field few
miles east Of Enid. The capitaliza-
ton of this company was $4,000.
Recently an orfer was made to the
company OF $4,000 for the oil
property which 1t succeeded in de-
veloplng Presumably that offer was
not attractive, for excellent authority
which has just been brought TO New
York from Oklahoma reports that the
offer was declined.
Excitement In Oklahoma.
Excitement. similar to that which
characterized the discovery and de-
velopment of oil in western Penn
sylyania prevails in these new Okla
hOma oil fields. They are situated
in the county of Garfield, of which
Enid is the capital. They are of
comparatively new development. for
II is less than two years ago that
the first oil producing well was
drilled near Enid.
Both science and capital. as well
as great ability and expert knowl-
= edge, are entailed IL there is to be
success in the attempt to develop
oil properties. Men of science who
examined a few months ago the
new Enid field which is situated a
few miles west of the so-called
Billings district, reported that the
geological formation and other
features which were brought out by
their researches warranted them in
saying that il was probable that
an experimental drill in that loca-
tion would bring success.
1t was decided by the capitalists
who had organized the company.
and had already built a refinery at
Enid and a pipe line, TO direct the
experts to begin drilling. At a dis
taRcs of a little more than a thou
sand feet below the surface the
drill struck the first layer of sand.
But the drilling was continued I'M
til at 1900 feet below the surface
the second layer of sand was reach
ed by the drill Not with that Sec
Ond layer did the drilling opera
tiOns cease. They were continued
until in the month of April of this
year the third layer of sand was
struck and there came a rich re-
ward for this perseverance.
The well yielded Immediately
seven thousand barrels a day and
there is no sign Of exhaustion. In
fact IL was this demonstration of
the existence of a vast pool OF oil at
least two thousand feet below the
surface in the so-called Enid dis
trict which persuaded other men of
"apitaI to make an offer of $2.50O.-
900 to the company. Thus an in
vestment OF $23O.000 a year ago is
followed by an offer of 32.500.O0o.
Rich OIL Country.
Garfield county in Oklahoma
whose boundaries are in the north
one county lying between it and
the Kansas boundary. has been for
twenty years one of the most four
ishing OF the agricultural districts
of Oklahoma. The banks which
were established at Enid about
twenty years ago have been until
within a few months almost exclu-
siveIy occupied in financing the
needs of the farmers. Now with the
extraordinary development of
wealth-producing oil the banks have
been compelled TO change somewhat
their methods although the farm
ers continue to cultivate. principally
to wheat. that wonderfully rich soil.
Tempting and fascinating even as
are some Of the reports which have
recently been brought to New York
by men of personal and financial re,
sponsibIlity telling of the sudden de-
velopment of new wealth, aggregating
millions in central Oklahoma, never
theless none but those who have ex-
perience or capital in abundance p
who are of expert authority should
venture to make investment In oil
enterprise and 1t would be folly for
any person who Is without oil ex-
perience to permit himself to be
tempted to invest in the stock, Of
which considerable quantities are off,
fered for sale, in oil-producing prop
critics in Oklahoma. It costs from
$4,000 to $4,000 to drill a
we'll After the well is drilled
and has shown itself to be
capable Of yielding thousands of bar