New Mexico state record., 1919-10-03
WELL FINANCED OIL
COMPANIES IN N. N. FIELD

in except by accident IN New Mexico
for some time to come. This may
be very disappointing to those who
believed that commercial oil could be
developed with a rush when the oil
exploration fever struck the state
nearly year ago.
Should a "gusher" be brought in
by accident in any location where
drilling is now in progress, the oil
could not be taken care of, In no
place has any preparation been made
for such a contingency. 1t is well
known that tank cars are not plenti-
full and the oil could not be taken
care of by the railroads. In fact
no dependable company now drilling
or getting ready to drill is, endeavor-
ing to bring in "gusher."
What the companies now at work
really are doing is to test out pro-
missing structures located by their
geologists. The geologists can To-
cate structures that arei favorable
and also determine that they carry
oil, but he can not say If the oil
is present in commercial quantities.
That must be determined by the drill
While this test drilling is in progress,
no arrangements are likely to be
made for handling possible product
Arrangements for this can be made
after production is assured
Deep drilling is never very speedy,
but during investigations of some
prospect, it is likely that drilling will
not be rushed The formation as the
drill goes down has to be studied
carefully and compared with the data
of the geologist Really the drilling
is for information Whenever com
mercial oil is struck. the character
of the whole thing changes from ex-
ploration to drilling for production
Tire progress of oil exploration in
New MeXico is most encouraging at
the present time More actual in
yestigation is going forward by geo
logists, investors, and drillers than
al anv time heretofore Reports that
come direct from drilling outfits in
dieate that they are finding encour-
AGING formation But very little re-
liable new information is available
None Of the rigs now at work de-
pend on financing through sale of
stock These interests have there
fore little concern ~ attracting the
attention of the public 10 what they
are doing Publicity Is Of no ad-
vantage in any way But what ''cse
interests are doing is of much in
terest TO New Mexico, not 50 much
from a speculative point of view
As from a point of advancing devel-
opnient of this latent resource.
1t may be worth bearing in mind
that it takes money to vestigate
a probable new field. New Mexico is
fortunate in having already a num-
Der of strong companies at work
or getting ready TO drill. At least
dozen wells are being sum-. in
various parts of the state by this
class of companies More are get.
ting ready to drill.
The latest repoi ted oil strike comes
from the Seven Lakes district IN
Mckinley county, about fifty miles
northeast of Gallup. Oil has been
known to be present in this district for
many years. In fact oil has devel-
sped in wells sunk for water to such
an extent that the water could not
be used for stock purposes. The re-
port is that a seventeen barrel we'll
vas brought in at a depth of 800
feet. The oil is of high quality with
q parafine base. Various parties
have been at work in this section
for many months. The Arizona
Land and Cattle Company has drill
ed two wells. After the water was
cased off in the first well il was
shot and found to be a producer.
II is the plan to drill a series of
wells and put in battery of pumps
and run the oil by pipeline to Baca,
the nearest station on the coast
lines of the Santa Fe Railway.
In Quay county the McGee well is
nearing 1900 feet. This is about the
speediest drilling any rig now in the
field has accomplished. Visitors that
have recently visited the we'll, bring
back the report that the formation
is very promising. Mr.. McGee is
well pleased with what he finds and
is negotiating with the people at
San Jon to sink second well there
Across the state line at Glenrio drills
are at work in much the same for
nation as runs through Quay ooun-
ty.
In Union county the Shorty Cob
bier Company has received its rig
and will be drilling as soon as set
up. The Ute Greek people are max
ing rapid progress on their location
at Bueyeros. No late report is at
hand of the progress of the United
Oil Company.
The Nu-Mex Oil Company of Por-
tales "spudded in" this week and the
occasion was duly celebrated with
barbecue dinner and general festivi-
ties. The location is on the Jack
Wilcox ranch southwest of Portales.
The Illinois Producing and Refin-
ing Company is waiting for special
tools to fish out the lost drill in its
well near Lakewood The latest au-
thentic report is that there is much
oil in the hole The well this COM
pany is drilling in Dayton a few
miles further north, has already
passed the thousand foot mark.
Drilling has discontinued on the
Lincoln well near Lake Arthur for
some time. But it is reported that
drilling may be resumed in the near
future Lincoln well No. may also
be under way soon.
The Commonwealth Petroleum
Company. backed by California cap
italists. has acquired most of the
leases of the Roswell Oil Develop
ment Company. This company has
selected its first drilling site in town
ship eleven south range eighteen east
near Tinnie in western Chaves coun-
ty.
The Southwestern-Tularosa Basin
Oil and Refining Con1nany has re-