New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1919-04-25

elopment In New Mexico is growing
by leaps and bounds. Application!
for oil leases continue to pour Into
the state land office in greater mum
Der. Individuals, oil pools. and syn
dicates are securing the state tc
obtain control Of every foot of lane
through lease or location, even rougt
mountains sections being included.
Oil companies are being organized
to test out the locations in many
parts of the state, around thirty com
panies having been incorporated ir
less than three months. Other com
panies are ready to incorporate
Several Older oil companies have be.
come active. Foreign companies are
becoming interested in locations and
going to work drilling.
A remarkable feature is the fac,
that old hands in the oil game in
oklahoma, Texas. California, and
other states are entering New Mexico
in large Numbers. These men have
made fortunes in developing new
fields in recent years They have
employed experienced geologists to
find new locations and have succeed
ed in locating large new fields, That
these same men come into the state
is most encouraging. Their geolo-
eists evidently are finding conditions
promising. Judging from the conf
dence of their principals in starting
operations.
II need to be noticed also that
reputable business men in New Mex
leo are taking deep interest in the
oil prospects of their sections. In
the past the bankers and business
men generally have given the efforts
to explore for oil slight attention,
much less risked any money in sink
ing test wells They have evidently
seen a new light and become con-
vinced that it is worth while to
have the conditions tried out thor
ouehly.
Indications are that there will be
many companies at work drilling in
every promising section of the state
before many more months. More
than q dozen drills are at work now
But the companies actually drilling
are not seeking any notoriety. They
nave been financed without appeal to
the general public. If they find oil,
they want all the advantage possible
from their investment. New Mexico
has not yet reached the oil stock
selling stage as far as home develop
ment is concerned. That stage will
come whenever oil is struck.
Once in while story gets out
that oil has been struck, whenever
there is any break in the daily pro-
gram of drilling Last week the Val
ley Oil Company, drilling at Coum-
bus. were compelled to stop for a
few days At once rumors started
that oil had been struck and conse-
quent excitement.
Down in the Pecos Valley rumors
start every few days that oil has
been struck in the Lincoln we'll. Up
in Union County there were wild
rumors that oil had been found by
the drillers near the Oklahoma line.
Up in San Juan County the Mesa
Verde Company did strike oil but
not in quantities and drilling is pro-
eeeding.
The Tularosa Basin continues in
the lime-light Las Cruces. Ell Paso,
local men and others are getting or
ganized as rapidly as possible. There
seems to no difficulty in financing
work in this section. Control of
land through lease or location is
being obtained. In the Otero Coun-
ty part of the basin $4,000 acres
have been located as oil land during
the first three weeks Of April. In
all over a, half million acres have
been located up to April 2lst. In
Lincoln and Dona Ana Counties near
iy as much has been located.
In Quay and Mora counties there
is increased interest the last week
More companies have been organized
and are being financed without much
trouble. Minnesota and Iowa peo-
pie have looked over this section and
were so we'll pleased with conditions
that they acquired large block of
leases N Quay and Curry counties.
As soon as they are organized. work |
will begin on a site yet to be select
ed near Tucumcari
At Lesbia east of Tucumcari an |
other company is already at work |
setting up a standard rig. The in
dications at this location are very
A standard rig is going in with a
view of drilling four thousand feet
IL this should be necessary. The hole
will start at eighteen inches to go
down as deep as possible without
change. The company is made up of
Texas men, several of them being
experienced oil men.
Over in the new county Of Hidalgo
there Is also something doing. In
the district near Stein one company
Is preparing to start operations.
Across the line in Arizona one COM
pahy Il already at work. It is report
ed that oil was found in this well at
less than four handred, but the a.
mouat was not large enough to suit
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