The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-12-22
Ticker Dope


change has received from Middle
states OIL corporation notice OF pro-
posed Increase in capital stock from
SAo'OOV,OOO to $30.00O,O0O.
OIL production Of Mexican Petro-
ieum in November was 5.6iI.Sg3
barrels, an average OF tSS,OOO bar.
rels daily its largest production in
any month
Cosden declared regular quarter
~ dividend. 62ia cents, payable
February j, record January 3.
DOW Jones: story of record pro-
auction oil In November by Mexican
Petroleum helps to explain recent
strength Of the stock, production
reached enormous total of 5,G4I,OOO
barrels, and there was exported O.
100000 barrels, none of which was
from storage, Shipment of Mexican
Petroleum for first II months OF
the year were 26,O11,0O0, an aver
age OF 2.364,OO monthly. IL Is sa.. 10
assume that Mexican Petroleum
prolits for 1921 will establish new
high records.
During the period of 81 oil the
MsO and Imperial OIL corporations
were moderate in drilling opera
tions. Now there IL more activity
At present time 2S offset wells are
being drilled Jointly or separately
by the two companies. OF these, II
are being drilled In Usage county.
Oklahoma, and the remainder in
Butler county Kansas, Okmulgee
and Hewitt fields of Oklahoma.
Electra and Mexia fields of Texas
and Eldorado. Ark, and In Mexla
four wells are being drilled. In ad-
dition to the two, companies are
drilling three wells which are not
strictly offset wells but are near oil
development and on geologically
recommended territory In Butler
county, Kansas; Magnolia. Ark. and
the Haynesville field Of LouisiaDa.
Production from Magnolia Pctro-
leum Company's 4S-aCre Desenberg
lease I'm MeXia field, Texas. amount
cd TO $4,000 barrels of oil from Oc-
tober 10 to December IA, an aver
age of 5000 an acre. The com
pany paid s1,100,O0O for the lease
plcted. The second well was com
pleted. The second well fas com
pleted last month and the third
carly in December. At present Mag
nolia lease Is producing 1900 bar
rols daily with wells slightly pinched
In waiting for additional pipelines
Company lease adIo'ned on three
sides by holdings OF Humphreys
Pure oil interests, latter interests
hold 40 acres on Desenburg farm
with their Adamson well with initial
flow of $4,000 barrels, being 1900
feet south of Magnolia Desenburg
No. /. Adamson we'll is pinched
into 10000 barrels with Adamson
No. 2, also Humphrey Pure oil was
recently completed with initial flow
OF 5000 barrels Same interests,
No. 3 Adamson, is drilled down toI
the sand.
Humble oil & Refining Co, ap-
proximatcly So per cent held by the
Standard oil co. of New Jersey is
producing $1,000 barrels OF oil daily
In MeXia, Tex. oil fields. The com
pany has five producing wells on its
Thompson lease. Humble is lead
ing producer os oil In Texas and is
also one of the largest crude oil
buyers in that state. 1t Is credited
with having 12,0OO.O00 barrels Of
oil In storage at the present time.
The largest part OF this was bought
at prices below those now prevail
Ing.
The North American oil & Refln-
Ing Co. has brought in a well with
initial production Of 1000 barrels
per daV I'm the deep sand in the
South Bend field Of north Texas. The
well came in at $500 feet. Hereto
fore this we'll has been producing
from 200 feet sand
on the shallower sands the Mid
die States-Imperial Oil group hasl
some 32 wells scattered over n total
OF 900 acres, lying east, west, and
north of the Scott farm on which /
the deep test we'll was succ 'ssfully
COMPLETED Immense value f. added /
10 this by the discovery Of the deeper !