New Mexico state record. (Santa Fe, N.M.) 1914-19??, 1919-05-23
MANY olA,COMPAN-
les BEING FORMED
TO DRILL IN STATE
OPERATIONS READY TO
START IN NEW LOCATIONS
DRuLERS ENCOURAGED
BY PROMISING F0RMA-
'ION

The petroleum business has grown
to enormous proportions. In fact to-
day the oil industry heads the list
OF American enterprises. The output
i'll March this year was O,4l2.OO0
barrels. an increase of 2,00l 600 bar
rels over February. The average
daily production in March this year
was $4,000 barrles. There is a mark
ed upward trend in production.
But the production is not keeping
pace with the increase In demand
for oil and there must be further
increase in production to keep in
dustries dependent on oil going. This
strong demand will keep the price
of oil at an attractive figure 10 the
producer
Under these conditions there is
naturally active search for new oil
fields and this accounts largely for
the growing interest in exploring the
promising prospects that are found
in so many different parts of New
Mexico. The explorations now get
ting under way in the state are
drterm;n,tion 70 locate Commercial
oH
The we'll informed oil men and
their eeoiopists that have secuted
over the state. are fully convinced
that oh is present in commercial
quantities in many parts. But all in
dications are that it will require deep
drilling ta30cate it. But even if the
oi, lies deep II present in CONNER.
ciai quantities. that fact Is not dis.
couraginp to the Northumberland
oil man
THE locating Of commercial oil in
New M.xico will give the state a
real oonortunitv for growth and the
deveionment az it's MANY other laten,
natural resources II is therefore
h;gbIv ;mnortant that onerators wifi,
cao;taI he given the spnnort of every
lovaI citizen that exnIorat;on NAV be
expeditea. Reliable companies are
,Jre,dv IN the field nreoariro m
begin ooerat;ons Rv fair treatmep,
m,nv more NAV he Induced to come
IA RI. sb,te.and undertake expiora.
t;on
rr, :o.
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