The Big Sandy news. [volume] (Louisa, Ky.) 1885-1929, 1920-02-06
OIL is TAKING THE
FRONT RANK in
KENTUCKY CIRCLES
Development is Just Reach
ing the Interesting Stage
and Opportunities Are
Plentiful.


Perhaps as interesting an event as
any of the past week in the crude oil
industry was the quotation posted for
4 Pennsylvania crude OF s5.25 per barrel,
which is practically the highest price
paid fer. Eastern crude for over so
\ years The growing demand for crude
of this grade is estimated as the cause
/ for the advance at this time. as other
grades were not advanced at the same
time.
The absence of the chance of secur-
ing any heavy production in the East
ern fields makes the prediction safe
that there win be prevailing high
market for tn ehigh grade oil OF this
field in the future. Many an operator
who has disposed of settled production
In the old fields and sought the more
exciting experiences of the new fields
has passed up good and sure thing
for an oftime failure and disappoint-
ment. With such market. very little
rrodue;i5n Is attractive.
II The Kentucky fields holds a special
! attraction for many operators, as
there is variety of action to be found
In this state, in shallow or deep drill
ing, and II does not appear that the
fields have been extensively defined.
From present indications the coming
summer season will see this field a.
mong the most active of any in the
country.
Unlike more northern fields, Ken
! lucky offers good drilling conditions
the greater part of the winter and
when the drill Is inactive because of
weather conditions II is for a few days
only.
Better Prices.
Price changes are interesting the
trade more than ever at this time. The
posting OF higher prices in the Eas-
tern fields may be followed by anoth-
err advance in the Kentucky product,
i (which now commands price one third
/ higher than at this time last year
The better grade in this field now
commands s3.25 per barrel, This price
lis a keen incentive for increasing pro-
| Iduction. The one and two barrel pump
ers. formerly abandoned as worthless
are being nursed with care, while not
few operators are turning to aban-
doned wells and are again equippinG
) them for pumping.
II Many new wells are starting in coun-
ties east of the Lee Estill- Powell field
work being scattered over dozen OF
more counties, extending to the Bic
: sandy valley and northeast to Law
: renee county, In Boyd county. neat
1.-The Lawrence county line. Patton 4
| Foreman will drill two deep tests In
: new territory.
Deep Searches Started.
, In Pike county, near Elkhorn City
New Workers. are starting the first Of
three contemplated deep searches
Magoffin county has eight or ten new
wells drilling. The F'lesher PetI Ioleun
Company is at work near Salyersvill'
= and is preparing to start up ON Middle
Fork, while the w. S. Dudley OIL Co
has rig up on Gun Creek. The Bee
q Rock Oil Company. which has drille'
severai producing wells, has two rig
UP on the Wheeler & Griffin leases
! Drilling on the Kelly tract. Turner
! Nay and others encountered half ,
million foot gas flow, This is in th'
northeastern edge of Magoffin.
In Knott county the Carter Oil Co
has rugged up for two deep tests on th
Iail lease. Across the lipe, in F'loy'
! county. the same interests will drill
several tests on Johns Creek.
Maeotfin County Sale.
Philadelphia oil operators have JUS
: closed deal for a large amount o
= acreage in Magoffin county, according
t to information reaching the Kentuck,
& Oil Exchange One tract of 10 acre
c sold to them near Paintsville, nea
v the Pitt Whitten property. where
s number of good wells have been drille
in lately, brought a good price, 1t /
= said. This buying is the sequel to tn
c recent discovery of good oil sands Il
Il certain sections of Magoifin county a
It well as a tremendous gas yield. A
n vet, Magoffln is in the wildcat class
e development in the county so far hav
II ing been limited to few sections
d However, results Of drilling have EN-
couraged new operations, and the pric
s of leases has doubled within the las
o month.
o Tha structure Oil Company whic
a took over the BED Rcck acreage, Wi
d launch big campaign inNthe spring
The Flesher Petroleum Company O
Louisville is moving to the Butle
Kelly tract on Burning Fork to dri
a test.
n Kentucky Price $S.25.
The price of Kentucky oil remains a
"a 1925 The Cincinnati Enquirer quote
: it at $3.50. but this is incorrect.
II In The Local Field.
It The Ken-Pa Oil company will drill
y well on Mrs. Margaret Stump's farr
n. near Walbridge. Also. they are max
= ing location at j. M. o'Bryan's. nea
Is Wilbur. This is promising territory
IS No 1 on j. Q. Lacley lease, two mile
IF from Louisa, was drilled in Wednes
day with a light showing. 1t was she
J. Thursday evening of this week abou
: the time the NEWS was printed.
Is No. on NJ. f.. Conley, Trustee, wa
le completed Wednesday morning an
e Shot that afternoon It filled up ~ bar
,rels natural In six hours. This Is tn