The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-04-07
on MAnKEr QUOTATIONS.
Skeiiy oil Company
Has Prosperous Year

Tho annual report Of Skclly OIL
company for tho year 1920, recent
ly Issued shows that company tN.
pcricuyrd % most prosperous year
a. the profit ana loss abatement
shows net earnings for the fiscal
year ending DcDcmhor 3lst, 1890
10 q total of }i.1gG,2OT %. or 81 0G
per share ON tho 100000 shares
ifsuod with "a par value OF 5000 per
share, ana this showing ~ very graft
fSiug, nj Shclly OIL company has
only boon In existence about "a year
and "a half OUT ot the total net
earnings. {44l7035.49. has hpou
allotted to definite reserve accounts
very conservative action to aid In
Tho development depletion and dc.
probation accounts Tor the coming
year.
At tho end Of the year shelly oil
company was carrying a grand tot
al OF l.3Gg ltuscH covering ltN.TUb.-
20 acres. OF which 50 leases were
producing, covering 7.9g9.SS acres.
and 10 leases We're being exploited
for production. covering gig0i acres
Tho total oil production Tor 1H1O
was l,63p,72l.7O barrels. which came
from 312 oil wells, ana the COM
bany owned "a gas wells The grand
total of leased acrcagcd is very woll
scattered In potential oil producing
states, there being 3S.459S5 acres in
Arkansas, 3,6G0.2i acrca In Illinois
o,S07 acres in Kansas. 2Ij9LSS
acres ia oklahoma ana 73.1SL32
acr"s In Louisiana and Texas
Tho increase IN producing wells
for the year registered 1870 per cent
while the percentage OF dry holes
20 tho whole amount of drilling
done In 1920 was Is per cent.
Another important revenue diVi-
sion OF tho company he tho casing
head ganolino department, Skcl'y
OH company owning and operating
casing-hcad plants IN tho Electra,
Texas field, the Burkburnett field.
the Wynona field ana the Slick
field. The total Investment In gas
Clinc plants and their appurtenant
systems OF pipelines, vacuum sta
ilons, etc. nt The end Of 1920 was
1,042,S1D.li. Tho casing head di.
vision showed gratifying net in
come OF S252,d Tor 1920. al
through Wynona and Slick plants
were only put into operation In Au-
gust ana Novem her respectively. Tho
company also owns n fleet OF 90 tank
cars, which aid much IN the operat-
Ing or the gasoline division, as well
AZ owning u working hfflllation with
Mldland kcfining company of lll-
dorado, Kansas and NortcN Refining
company OF Burkburnott. which com
pnnios are respectively owned by
Skelly OIL company Az to ~ por cent
and 60 per cent of their capital
stock.
Tho board OF directors recently
adopted IA resolution calling u meet
ing OF tho stockholders IN Tulsa on
April 22, 1891 to consider incrcas-
Ing the company's capital stock from
100000 share TO 100000 shares.
or from a total of $15.OO0.O0O to
$2O,OOO,000 capital stock for the
purpose In part OF acquiring the
whole or the majority OF the capital
stock OF each of three kindred cor
poration. viz; Midland Refining
company, Inland oil company and
Ranger Gulf corporation. If this
proposed purchase IL carried out, the
cycle or the companys organization
VIII be complete in the pruducing
itlnlng and marketing divisions.
a" to drilling policy the company
IS very conservative. and In only
drilling such wells at present as are
absolutely necessary thereby rcduc-
ing The operating cost and entering
into'tho popular spirit OF curtailment
OF production.