The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1920-05-23
IN THE OIL FIELDS
OffirssS1Sl W. H PECK Residence z442
w. n. PECK
Residence zA2

very Dhd ana matcflhl almpfl IN
possible 10 secure at any price, hut
in spite of the many adverse con
ditions affecting the oil business,
thore are n goodly number ~ largo
corporations who appear to be push
ing drillinp operations to the limit
ana with most extraordinary sue
cess.
The Producers A. Rcfiners corpo-
ration II about as active as any ~
them and has a showing for n new
well In the southeast corner OF the
southwest OF 3l-2f-6 which iH q
half mile east OF the Marland 500
barrel we'll across In range 3. They
are getting much more Raa than III
the Marland well and usually the
gas indicates the oil that is uncOv-
cred by deeper drilling. II rs one of
the most important news items of
tho day, and innsmuCh as the Fro
ducors q Rofiners corporation owns
the acreage over 90 the Marland
well. II puts them In an enviablr po-
sition. They are always in the new
| pools wherever developed
W. q. Skelly at the head Of tho
! Skoily on company. In In strong In
the west Cushing field. At Hewitt
and also all tho new pools with a
| commanding position In the Usage
and by all the laws governing value
! OF oil properties. N ~ evident that
! the stock OF this concern which has
! held up nicely during the recopt
panic should sell at "A much higher
/ price.
Tho Atlantic Petroleum company
is on velvet and is not intending to
mako any merger although this
concern with It's magnificent pro
duction has had many offers, and
Mr.. Grcis has been solicited 40 II
In reported by sono OF tho biggest
and best concerns 10 make a com
bination. The stock rs solllng AT u
price much below It's real value.
The Wolverine oil company. that
IN tho successor OF the old Central
Petroleum company organized by
George Priestly. Ia now likely "a
show tho stockholders "a fine profit
although at one time the bondhold,
ors were OF the opinion that there
was nothing In sigh. They have a.
wells drilling at various stages, In.
cluding nine producers In the rict
Hewitt field which are producing
approximately 2,200 barrels daily
Tho most recent completion by this
company In the Hewitt field fs It,
No. 26 In the center OF 22-is.2w
| WHliH tUf lbIi VI lHe pay kNnI
at l,ali feet and made 22b barrels
They are still drilling In the sand
and their No. 20 which is one loca
tion due west OF their No. 20 liz also
flowing In the top Of the sand.
The Sinclair consolidated, at q
special meeting OF the stockholder,
held on the 18Th, ratified tho action
| OF the directors In authorizing pay.
| mont OF four quarterly stock div
idends on the basis OF two shares oI
no par value common, each quarter
for each hundred shares OF tn,
same. Dividends will bo payabl,
to stockholders OF record June 30
September 30, December al, 1920
and March 81. 1891, Payment 4
due Il days later in each instance
The stockholders also approve,
! an increase OF the stock issue from
b,s00,00O shares to $4,000 90
100000 OF which shall be pro
forrSi stock OF tho par value OF $lOt
and 100000 common shares with
out par value. They also ratified
an authorized issue OF $4,000, ,00t
five year IN per cent convertibl,
notes--50 900, 600 -. OF which hav,
already been offered for subscrip
tion, and authorized the converting
OF these notes into stock OF the cor
poration upon basis OF one share
OF preferred and one quarter of 4
share OF common stock for eeacl
500 note. Tho new capitalization
should put the big concern on eas,
street and far above any danger %
being affected by the stripgen
money market.
The Middlcstates Petroleum com
pany, which should be classed a
Tulsa concern, is due with "A sec
ond we'll In the deep pay on It
Riverbed Lease offsctting the Bos
ton farm IN the Cleveland field.
report from this well "a looked 10
Wedncsday--the chances are goo
for "A big producer.
The Gilliland oil company whe
II extended the pool three ight IN
OF IA mile southwest at Homer, La
virtually proved up n long string @
territory as acreage goes In tina
rich pool and is industriously put
ting them down and Is virtual
: suro of getting good results TIL
chances are this Is the largest u
producer In tho mid continent sfiel
b at the present time,
!. The Gladys-Belle OH company
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