The Barre daily times. (Barre, Vt.) 1897-1959, 1918-06-08
PETROLEUM IN 1917.
The Oil Fields East of the Mississippi
River.

Although the production of the Older
oil fields of the United States has re-
Gently been declining at an average rate
OF about five per cent. a year, the output
of these fields in 1917 shows that they
are still capable of responding to the
stimulus of high prices for their product
Preliminary statistics just compiled un.
der the direction of j. d. Northrop by the
United States geological survey, depart.
ment of the interior, in cooperation with
the state biologists of New York and
Pennsylvania and with the director of
the Illinois geological survey. show that
not less than 44.347 $50 barrels of petro-
leum was marketed from the Appalachi.
an, Lima India, and Illinois oil fields in
1917. This was less than one per cent.
below the output of these fields in 1915.
The value of this oil at the wells was
Sis, ss7 ,s64, which was S23, s44 .249, or 20
per cent. more than the value of the out
put from these fields in 1916.
Throughout the area covered BY this
preliminary report, which Is, OF course,
subject to revision, the year 1917 was
one of unremitting effort on the part of
the petroleum operators to stimulate
production, Although the oil producers
in these fields were hampered by mount
ing costs and increasing scarcity of drill
ing supplies and of labor and although
their quest for new production, except in
Kentucky and Tennessee, was restricted
TO territory that has been actively drilled
for oil for periods ranging from IL to IS
years, the results they attained were
highly ereditable TO their patriotism and
resourcefulness.
In all 9,ll6 wells were drilled for oil
in the fields east of the Mississippi in
1917, loss of l,0ol wells, or 10 per cent,
compared with 1916. OF the wells com
pleted, 6.042, or 66 per cent, were oil
wells, credited with an average output of
10 barrels each the first "a hours after
completion, l,246 were gas wells and
S2s, an average of one in every five
completed, were failures
Appalachian Field.
Essentially complete returns from the
oil fields of New York. Pennsylvania
eastern Ohio, West Virginia, Kentucky,
and Tennessee indicate an output of not
less than 24,g07,l76 barrels of crude pc.
troleum from the Appalachian field in
1917. This quantity is greater by 1891
72l barrels, or eight per cent, than the
output of the field in 1915. and greater
by about nine per cent than that in
1918. Although the principal increase in
production in 1917 was made by the
newer fields in Kentucky and Tennessee,
the relatively slight gains made by the
older fields in New York, Pennsylvania !
and eastern Ohio contributed materially |
to the success of the years operations, |
as they were ample to offset the moder- |
ate decline in output charged to West
Virginia.
The average price received at the wells |
for all grades of Appalachian oil market
ed in 1917 was s3ll barrel gain of |
So cents, or 20 per cent, over the average
in 1916. The market value of the oil
sold was not less than s77,44l ,9s2, gain
IF fully s20,752,774, or about 81 per cent,
over the market value of the output in
1916.
The market for Appalachian oil was
strong throughout the year and except
or one temporary reversal affecting
Mercer Black" grade only, all revisions
If price in 1917 were upward. pennsvl-
'ania grade, the class which includes the
Irester part of the oil produced in the
Appalachian field. opened the year at
;2.s5 a barrel, and advanced to S2.95 on
Ian. 5, to S3.05 on Jan. Q. to $50 on
April IL, to 1925 on Aug 10, to $3.50 on
Aug. 20, and attained its closing price
# S3.75 barrel on Dec 4, the total adj
ance during the year amounting to 90
ents a barrel and constituting a gain of
bout - per cent. on the price in effect
!: the beginning of the year.
Activity in drilling was slightly less in
el7 than in 1916, owing to the condi-
ions already indicated. In all 1870 wells
Tere completed in 1917, compared with
ISL in 1916. OF these 1,907, or Ga per
ant, were oil wells credited with an av-
rage yield Of Is barrels each the first "a
ours after completion, 1919 were gas
ellis, and ! .544, an average OF one in
very FIVE. were failures