The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1919-10-07


FOR the rrsi time since New Mexi-
a co came into prominence a. a poten-
tal oil Held. the situation ns rrgnrsr
the state a. a whole has changed dur
ing the past ten DAYS from one Of
planning and preparation. promotion
aSd conversation, to % completed
financing. derrick construction, actual
drilling and actual discovery Of oil IN
mcrchnntnhle volume. In actual de-
yeioprient Of the most notable wild
eating movement since drills began
10 pound IN Wyoming and west Texas
the period referred 20 has BEEN the
| nsost important In New Mcxlco's his
tory. for durlre this time drills have
begun actual work IN almost every
couniy IN the state while important
progress has been recorded In those
districts where drilling mas been ~
der way for some time.
OF IN merchantable volume actual
IL has been found IN the Sewn Lakes
field sixty-hve miles northeast Of Gal.
lup. The quantity % oil iF small and
the depth Il too shallow for any fur
thef Increase In the production "
such depth. but u IA entitled 10 rank
as an oil discovery. In number OF
discovery wells heretofore exlsiinE
wholly on paper and now working
reailtlea. the week has been the most
important IN thu history OF the state.
-
Albuoueraue men who have eturn-
ed during the past few days from the
Texas and Oklahoma OIL production
and financial centers say that there i
no longer doubt OF the fullest expiof-
alton throughout New Mexico during
the coming fall and winter months.
Interest among practical oil men OF
means they say. " inat beginning TO
take hold with the TexaS ana Okla
homa men who have been watchins
the leasing and scouting Efforts Of the
!mpcrtanf Standard oil Interests very
closely. The independents are now
preparing 10 invade the state ana
their coming, u IL indicated. viii cause
an Immediate and iIn,ortant hvenine
up OF the situation. There II uniim-
tied money In Texas n Okiahona
oil centers hat must 70 into expiora-
sion work or income taxes payments
and this alone II lending enthusiasm
10 the extension OF exploration work
In New Mexico. fine oil boon IN
New Mexico II yet to come. say the
travellers now returning almost daily
from Texas fields. is crest will come
In view during the coming winter
months and will probaniy break over
the state In fun force next spring.
Something Of this interest OF Texts
and Oklahoma oil men In ScW Mex
leo IL shown In The moro widely dis.
tributed and more responsible oil
journals and newspapers. Those u
Texas and Oklahoma have been xiv
Ing constantly increasing attention 70
New Mexico for many weeks past
while dtiring recent weeks they nave
been carrying extensive Information
as 20 new companies entering the
held. new drilling operations begun.
prospects and forecasts. This mas
49, N.a. - H. NnaAmI gHuN.
ley and PNtaies neids la which many
Texas and Oklahoma men are inter
ested. The Western OH Derrick OF
last week gives practically Its whole
front page TO development operations
tributary 20 Carlsbad ArteSia, Hope
and Roswell In Chaves couGty, and ~
Portnies and Meirose In Curry and
Roosevelt counties: dividing nnnor.
In She headlines with the news OF
Burkburnett and Desdemona.
One OF the most interesting bits OF
development news u the week Is the
rumOr that comes by ca % the Okla
hnma oil paper thar NJ peeH
Of Dallas. the developer Of tho now
famous Hog Greek on company. may
hecome Interested In exploration on
3 Creek company. which was sold twt
weeks ago to eastern oil Interests foi
SIC, 000, 900 ~ one Of h wonder
wealth producers OF oil history. IL
[ stock was sold at 800 per share, is
par value. There were hut loot
shares. not an OF which were sofa
owners Of the stock received appros'
lmately S26.0O per share for ever,
400 share they owned. Mr.. Does. &C
cordmg to an Ardmore. Okinhomi
dispatch. reporting the sale, owne
COS shares Of the stock. MIR. Dees IL
known az a courageous ana success
ful developer 81 new territory ana hi
advent into New Mexico would Id
an important member 10 the rapidil
growing group Of financial interes'
equipped both with the money ant
courage 10 thoroughly test the field,
Another bit OF oil development
news that comes by way Of the east
ern oil journals and that II OF NOR
than passing interest II the fact tha
during the past week three strnni
companies have been announced "
Chicago financial circles waose pur
pose IL 10 lease ard eNrrre oil land
in this state. Aside fran the Tolte
oil the pioneer wlldcattinl
company in New Mexico, which
controlled ny Chicago Interest. llh
nois has shown little Interest In Ne'
Mexico up 10 this time
The following Is a fairly compre
henslve resume Of oil news aud de
Velopmcnt progress throughout Me-
Mexico during the past week, give
briefly by counties.
Mckinley Connty.
Arizona Interests whose well on
countered oil bearing sand AT 3f6 fec
n the Seven Lakes district. IS miie
northeast Of Gallup report definitel
hat the well will pump twenty hal
reis n day. This well Is 90 he consol
dated with other shallow wells near
by whicn have encountered oil a
about the same depth and q produc
ton of about 100 barrels a day fror
the neid IN expected II VIII be q
interest chiefly AS the FIRST actual CON
merciaI production 81 oil iu this stat
rt.. srl.cp. and nthar ar