Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1920-11-26
CRUDE OIL PRICES
HAVE DECLINED
MARKET FOR REFINED PRODUCT
WEAK. SJPLIS On
HAND.



FORT WORTH, Nov. 2s.-TyNas upc.
raiors admit tina, a decline IN the price
Of crude for the Mid Continent fields.
including North Central Texas. Okl.
homa. Kansas and Louisiana. IN posi-.
bic. following the reduction in the Gu't
Coast fields. most ~ ,hom are 81 the
opinion that II viii hold up tu its pr,s.
ent level of $3.50. II ~ declared th.t
although the refined market H. sHu,.
what wear there IL no great surplus -
crude In storage IN most ~ the MID.
Continent fields and that practically
all 81 the prediction IL moving out %
refineries without delay. Tho price g.
the Coastal fields WAS reduced 5Oc a
barrel TO $3.50.
Quite an important extension ~ Oh"
slpe Springs deep production fi,ld b.
reported In the bringing IN ~ She tcidr
No. Of the Atlantic Oil Producing
Company, about I 900 feet south 81 the
previous limit II the field The new
well has not been completed but b.
flowing by twominutc heads after q
shot. and IL giving Indications Of mnk.
Ing i.00Q. barrel producer II is sal
10 be steadily growing stronger
X. VI. \. Field More Interesting.
A new turn IN the development 90
the Kemp Munger Allen district O..
Wichita County also Is reported. Il t.
declared the Panhandle Refining Cor.
pany has completed the first CONNER
cial producer IN the recently discovered
i,so0foot sand. II II the Munger y,
4 and IL swabbing around 100 barrels
daily. This sand so far has been d.
veloped only IN the one well IN the die
trict. but IL has been found In many
others and possibly will prove an m.
portant addition % the prouCtion there
In the South Bend district ~ Young
County the McCluskcy No OF the
Panhandle Refining Company sim has
not been completed but Il has material.
~ increased It's gas pressure and Is
flowing $4,000. 900 feet. with the dr!
on top Of the sand at 2llO feet. The
McClusky Nos. and . are two ~ the
best producers In the Young Count
field. the latter having been brought
In last week for i.oOO barrels daily.
STEPHENS County Rather Quiet.
In stephens County the situation ST
II rather quiet generally. but consid
cradle activity Is reported 10 the north
and northwest Of Breckenridge. The
Ward No. Gle Of the Gulf Production
Company. Elk miles 90 the north, ha.
been drilled into the sand and IL flow.
Ing 200 barrels Of oil and % 600 600 feet
Of gas. This IL located In a very goui
district which has been little drilled
and the flow 81 oil ~ expected to be in.
creased materially when u Is completed.
Farther northwest q this new pro
Queer the Edmonds OH and Refining
Company has Just completed the der.
rick for Its first well on the Joseph
Yeaman survey. about milo or ~
outside Of the range 81 production AMI
II win be watched for further extcn.
sious Of that vicinity. Brown and as
sociates also have spuddcd IN "A well ON
the J. T. ball farm. slightly OUTSIDE
Of the proven zone.
Operators Optimistic.
Fort Worth operators who have Wis.
Tied the new Limestone County fell.
opened by the Rodgers well Of the
Humphreys Petroleum Company. lust
90 the west Of Mexia. are very onthus!.
astic over It's prospects. The sand e
now reported 20 have been found a,
s.oss feet and has been drilled into the
sand only six inches. although Il IN,
made several nice flows and Is siani.
Ing 1900 10 1000 feet In oil The most
conservative estimate that has been
made by any experienced oil man who
has visited the field is 100 barrels dally
Others range up o. I 600 barrels.
In Coleman County work has been
resumed on the well ~ the TeNasAr..
roma well, eighteen miles northwest, ~
Coleman. which II down .. 900 feet and
In making considerable gas.
In Mitchell County the latan well Of
the Colorado Texas Petroleum Corn.
pany II reported b. be making Oh after
q shot and Is promising long extern.
sion of the new field IN that county
Properties Of the Mld!ToNas OH 4 Re-. ]
lining Company has been sold 90 the |
refiners and Distributors Company.
The Mid.Texas Petroleum Company
has bought a site In Fort Worth for the |
erection Of a new 2.00o.barrel refinery.
II VIII be located alongside the Texas |
a Pacific Railway Tnrspnvv