Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1919-07-18
NE W MEXICO ONLY
OIL POSSIBILITY
. GEOLOG|ST SAYS
Dorsey Hager Says There is
No Reason to Class the
State Now as a Certainty
No Reason for Enthusiasm,

NO reason Tor tEllluSldStn,
ESPECIAL cosREsponnsIeS TO @oaN,Ne JOURNAL
Roswell, N. NJ. July 17,-oil Is a
possibility in New Mexico, and at
present no more than that. according
to Dorsey Hager geologist, who has
been working for the Roswell Oil De-
velopment company in this section of
the state since last February Mr.
Hager now maintains his principal Of
6iee here, having a branch office in
Dallas, his former headquarters. Mr.
Aager is confident, however, that the
field will be thoroughly tested by real
oil companies who are used to taking
chances, and he warns against the i'm
experienced companies which sell
stock to local people,
Mr.. Hager has just issued the fol-
lowing clear statement regarding New
Mexico;
New Mexico is at present attract
ing the interest of oil men of all class
es, and from all parts of the United
States. The state has the possibility of
becoming an oil producer but at pres
ent there Is no reason to class it other
than possibility. This must be en-
phaslzed, reports of eminent geolo-
glsts to the contrary. Mr.. Drill is the
best seologist we have, and his verdict
viii be the final one.
From a geological viewpoint there
are some favorable features, notably
the presence of folding, such All
domes and anticlines, faYorGble to oil
accumulation, There are some posi-.
tive indications Of petroleum as shown
by the small Production obtained inl
me Brown anG the Belt wells near
layton Ed.dy county, and the Red
i,elu VII in Chaves county. and the
Pfo7 snce of oil saturated sand on Sew
IN rivers southwest of Artesia, andl
the presence of asphalt rock north
east of Santa Rosa, Guadalupe county.
There is series of sedimentary
rocks of Permian and Pennsylvania
age which are 5000 feet thick. Some
Of these beds are favorable, some are
questionable as favorable producers
sands are plentiful throughout them
and an places carbonaceous shales andi
b1tuminous limestones abound How
ever, none of these indications must
be given too much weight, although
they are encouraging.
conservative biologists differ in!
their ideas of the country and do not
NOiiolbCl many ltdAuitS VI NClldli
sediments favorable. On the otherI
hand commercial oil pools have been
found under conditions less favorable
than those in New Mexico.
New Mexico must be prospectedl
This Is the view taken by oil men ac-
quainted with local conditions, butt
these men are spending their money!
not upon certainties, but upon thet
possibility that oil might be found in
some one of the folds that are known
to exist. Such drilling should be car
ried to depths of from 500 tot
1000 feet, dependent upon the condi- /
tions existing in various parts of the
state, and under competent advice.
IF even one or two good fields are
opened by this prospecting the money!
expended for tests will have been jus-I
titled
However, it must be clearly under
stood that there is no ground for en-
thusiasm over present prospects,
Many million dollars may be expend
ed without a real field resulting and
the state may be given up as hopeless.
enthusiasm is costly but oil men
who are accustomed to take long
chances are doing the prospecting in
the state and they will bear the risk
VI ldllult' lpillilllS Oll Wells Is tApGH-
sve work and encouragement must
be given the man or men who under
take the risks. The public must dis
criminate, however, between properly
financed companies who enter the
state well prepared to carry on their
work and asking nothing from the
home people who do not understand
the oil business. The latter concerns
start drilling dependent upon selling
stock to the public to obtain finances
sufficient to put down their holes, a
slow and usually costly system of fl
nancing and one usually attendant
with loss. The record of small stock
company operations show that not one
company in one hundred is successful
despite the lurid advertisements prom
Using big returns for small amounts in
vested.
Oklahoma. our wealthfest state
showed in 1918 that out of every
$3.50 expended by promotion COM
panies but one dollar was returned.
The men who made the real money
in Oklahoma were those men to whom
popular stock selling is abhorrent."