The Breckenridge news. (Cloverport, Ky.) 1876-1955, 1918-12-18
OPPORTUNITIES IN OIL
RECENT DEVELOPMENT IN KEN
TUcKv OF UNUSUAL MAGNITUDE.
Decided Success Attends Efforts OF
Kentucky Company = Big Profits
Assured.

Kentucky as an oil producing state
II coming rapidly to the fore, due
largely to the aggressive and progress
sive management Of one of the pioneer
the McCombs Producing and Refining
Company
This organization has quadrupled
its production recently simply by going
after oil when 1t knows 1t was there.
This is emphasized by the fact that
this company has as yet not drilled
what is technically called one dry
hole, that is, non-producing well
AS result it announces 40O-barrel
well just "driled in" in the big
Sinking District" 25O-barrel well in
Lee County, and a 1O0barrel well
near Torrent, Ky.
This makes an increased output Of
NO barrels per day in only three wells
here lately, and there are now 81 pro-
ducing wells belonging to the Nc
Combs people.
Mr.. Abram Renick, president of the
McCOmbs Company. announces that
within the next ten days he expects
also the completion OF eight addition
al wells. This is going to make a
tremendous Increase in the production
of crude oil by this company.
Increasing Facilities.
- To accommodate this product the
entire refining plant of the CONSOLE
dated Oil Refining Company of East
St Louis has been purchased and will
be literally removed in its entirety to
Beattyville
Beattyville Is on the L. and n. Rail-
road and within six miles of the pro-
ducing properties of the McCombs
Company in Wolfe County. A pipe line
is now being constructed from the
wells to the location of the refinery
at Beattyville.
fleet of 30 steel tank cars has been
purchased to convey the finished prod
uct to the market.
Refining in Kentucky.
Meantime production from wells al
ready having n consistent record of
production and many new wells which
are constantly being brought in
through the active drilling campaign
inaugHrated by the company, assures
an ample supply of oil for the re-
- tpAy from its own wells.
The far-sghtedness of the manage
ment in securing a ready-to-hand re-
filming plant at a reasonable figure may
be appreciated when it is realized that
under present conditions the cOnStruc-
ton of new plant would have been
impossible. The establishment of the
plant at Beattyvlle will be followed
by the construction of an additional
plant for the manufacture of lubricat-
ing oils and parafline wax.
Future Possibilities.
With the prospect of increasing the
number of new wells by 40 or more
within the next six months, the Nc
Combs Producing and Refining Com
pany is justified in believing that at
least S1,O00,O00 worth of oil will be
sold from the property within the
next six months.
Adding to this the profits of refin-
Ing, and marketing in its own cars, it
easily takes rank as the foremost in
dependent oil company in Kentucky.
1t must be remembered that the inn
mense acreage as yet undeveloped con-
tains possibilities of future profitable
expansion which can hardly be calcu-
lated. 1t includes over 1900 acres in
the Eastern Kentucky oil belt
Under the able executive manage
ment Of Abram Renick, the president
lef the company, and the field manage
ment of ]. q. McCombs, there has
been an enormous increase In the total
value Of the company's holdings and
this has been accomplished without
jeopardizing the safety Of the share
holders interests.
Further expansion, however. re-
Quires an additional amount sf work
ing capital and this will be supplied
BY the sale Of additional stock YET
retained In the treasury.
Recent Newspaper Comment
sMcCombs Buys More Production IN
Lee-The lease purchased consists Of
l16 acres and are regarded as very
valuable property. There are now two
wells on the Butcher lease, one OF
which under actual test for Is hours
produced 292 barrels Of ofl."-On
World, Nov. 2, 1918.
'McCombs Producing and Refining
Company has completed It's arrange
voanta for q vary activa drilling "a M