The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1919-02-20
Prices Take Flight; Do Fancy
Spirals; Altitude Record to
Date Reached Yesterday
at $500 Per Acre.
NEW WELL FLOWING
AT A HOUR PERIODS
Company Busy Getting Up Tank
age and Placing Lead Lines;
Other Wells in. Field Near
Completion.
Going, going, gone!

From the present indication, tina
is going to be the description o!
some of the Cement oil leases, for
the simple reason that if they main
tain their present pace upward, they
will soon be entirely out of sight.
All day yesterday they did spirals,
dips, loop-the-oops and other stunts,
the lease operators meanwhile run
ming around in circles or doing a
series Of backward flip-flaps. This
applied both to the activity at Ce-
ment and on the Curb market" Of
Chickasha.
The high mark that is reported to
have been reached yesterday was a
virtual o--set to the Gala Belle, that
according to reports sold for $500
per acre. While this set an altitude
record for the field to date, there
were many transactions reported at
from 500 to 5000 per acre, from
which figures the trading dwindled
to the edge stuff-away off at that
which showed only a slight quivver
of excitement The whole day was
decidedly bullish, speaking both as
to the market and conversation,
largely.
With the field classed as real
field for a period Of only a few days,
there have started already the sto-
ries of fortunes or near fortunes
made by land owners in the vicinity
of the wells. Mr. Duncan, owner of
block Of land in the same section
with the Gala Belle oil well, has
been trying to sell his property for
some time. He offered the land at
$50 per acre and found no takers.
1t was too much money for anyone
to see in that land, so they turned |
it down. Yesterday he sold the oil
lease on the same property for $3.50 |
per acre, has the land left and owns
the one-eghth royalty on any oil
At that there is a reason for the
excitement and activity. Let it be
statdeg again that the Gala Belle is
real oil well. There is no doubt
about that A professional man of
Chickasha was at the we'll yesterday
practically the entire afternoon. He
came back convinced.
"At about 4:2O yesterday afternoon
the Gala Belle flowed" he said.
"Now when l say flowed l don't
mean that it simply bubbled over
the top Of the casing She came up
slowly at first, mounting higher and
higher Then she wound up with a
gush that sent the oil far over the
top of thta 112-foot derrick. The oil !
stands close enough to the top that
you can see it,
The Gorton company is today put
ting in tankage 20 take care of the
oil. Up to this time there has been
a big waste, aside from the oil that
has filled slush pit and other avail
able earthen basins. The first tanks
were set yesterday evening and 9TH
ers are being put in today.
Lead lines to the well are being
installed and it is the purpose of the
workers to have her flowing into the
tanks instead of the open air by |
tonight.
While the Gala Belle has hogged
the bill for the past few days, the
other wells in the field have not
been idle. Steady progress is be-
ing made on the west side of the
field and some competitions that may
swing the interest and excitement
back there are expected in the next
few days.