The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-05-11
nn. MARKET QUOTATIONS.
Are Things Working Out
M Was Expected?
nv LANES l.. GRIZZAED.
Assistant oil Editor.


sil1ed condition OF foreign trade, an
other big factor, which no doubt had
fot 10 do with the recent reduc-
s,rs In the price of crude, was the
nrosp, cts for enormous production
srom wildcat pools over the coun-
try e,- .,,,, ~, ,,oroos
Inc surplus of oil In this country,
and a surprising large production
sror the old and proven fields, the
, matter OF having new fields with big
inotential production to fall back
unon I'm case OF an Increased inter-
national consumption of oil or any
unforeseen incident that might affect
the available supply. has much to do
with the fixing OF the price OF the
oil that Is being stored by the pur-
chasing companies at the present
time. a.
holding up surprisingly, however a
comparlson of the figures from the
high point OF last year with the pres
snt figures will show that there is a
decrease from these pools. The fol-
lowing examples are very signif-
cant:
Barrels
December 20, 1919, highest
D. polnt In daily average. 9,26O
April 30. 1921, highest point
In daily average .......-. 55,74e
-
decrease 43.520
lastland County.
October Is. 1919. highest
point In daily average. 70,400
in daily average ......... 1880
Decrease ............... 5000
Comanche County.
December 20, 1919. highest
; point in daily average -. 1855
April 30, 1921. highest point
in daily average ......... 1885
-
Decrease .............. 20.45o
North Louisiana.
April 30, 1920, highest point
in daily average ,....... .127,2SO
April 80, 1921, highest point
In daily average -....... 9,4S5
Decrease .............. 57,745
In the past few days some very
important developments have taken
place In the two pools which were
the biggest menace to the market in
the way of potential production,
which changes the outlook great
deal to what 1t was few weeks ago.
OF course, It is needless to say that
these two pools are the fields at Ell
dorado, Ark, and north of Haynes
vile, La.
Reports coming from oil men who
have just returned from Eldorado
indicate that operators down there
haua thpltf ha Ia fitl yptt h thu IL
water problem, and that, even
though this trouble is mastered, that
field will not be a market breaker.
Recently, a number OF the big
wells opened up wide, have gone to
making bad oil, drilling themselves
into the water sand on account of
the big gas pressure and the fine
ness and porosity OF the sand. Also.
Il is said that most of the big wells,
which first we're reported as good
for from 1000 to 1000 barrels, upon
being opened, soon fell off until they
were making less than 1000 bar
rels per day.
The sand is fine and porous. and
II is thought will be drained fast,
and with the enormous pressure In
the wells, there IL not much ques-
ton as TO what theresult will final
ly be.
There Is no doubt that there will
be a lot OF oil produced at Eldorado.
and that many of the operators
down there will make big money off
! OF their leases; however. recent de-
Velopments certainly do relieve
4 much of the fear that existed re-
garding this field being anything
IKE the big pools of Oklahoma
At Haynesville, the finding of salt
water in the No. Waller of the
Gun Production company In H.
sS-s, just a quarter of a mile north
OF the s,000-barrel well of the Gill;
land OIL company, Is very signifi-
cant, as past experience has shown
such fields, where salt water wells
We're In such close proximity to big
Wells TO be very small in area.
The faIlurt, in itself, does not
pound the pool from extending in
any other direction except to the
north, and no doubt much of the
surrounding acreage will prove UP
pig stuff: however, the salt water
IN the sand found at 2,s66 feet tends
70 make it look as though the field
VIII not spread out in large area,
out viii be something like the Ho-
mer field to the southwest.
with the pending Mexican tariff
movement, which would curtail the
vast Importation of Mexican crude
into the ITnitad Cfataa. Tho nnrotn q