The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1921-11-30

Good Drilling Territory
Is GETTING Scarce

The fact that crude oil is adyanc.
ing In price ~ mighty good evidence
that the big people are right for
once when !; comes to knowing tho
necessity Of providing for the future
supply OF crude oil. and this does
not mean that the average oil man
should drill his head off, Zoo the face
OF good market conditions ana IA
hig rush on the part Of pipelines 20
get OH for future uso.
only recently ono ~ the best op-
orators that ever played the game
in tho Mid-Continout field put on 70
campaign of drilling. and his schcd
ule called FOR ten wells; five In Kan
sas and five In oklahoma, and all
on nrst-class. wclldcflncd structure
that had been surveyed and rosur-
ycycd by the best geOlogists IN the
entire list lie succeeded IN getting
one well out OF the ten. which waH
remarkably good average at this
stage of the game, when It comes
10 wlldcaltinK
As safo proposition. II 10 Just ~
we'll TO look TO the future, and this
IS what w. G.. Tcaglo and his ASSOC
ciatos In the Mid-Continopt field are
doing. They are storing oil while
the storing is good and know full
well that when big seemingly in
eXhnustiblo field like Mexico was AT
this time year ago. can be drilled
up and cleaned up with tho cN-
coptlun OF few miles OF the oN-
tremo south end II h about time
that concerns capitalized as tho
Standard. Sinclair. Texas and Gulf
companies are capitalized, should
look out for "A supply of oil.
They all overlooked bet In not
getting into Mcxia In time To take
care ot the oil that is now going 20
anyone who has the price aad the
tank cars to move 1t, at much below
its real value In the old days IN"
standard would never let this hap
pen. hut 1t has happened at MeNla
and the consensuS of opinion among
oil men, is to the effect that when
the Texas company moved out
after having made a connection at
MeNia, II was solely for the purpose
OF putting the Humphreys intercssa
on the hummer. They are glad to
get back now and are TO blame for
whatever pricecuttinR there ~ gutlg
on down that way
There has been too much Oratory
and too much publicity OF nature
that hurts the market, for which
perhaps the press agents at McXia
time that II was not necessary to
start the toolkiller out with his
stuffed club7 Horace Greeley James
who is secretary of the Western
Petroleum Refiners association ~
getting into all tho newspapers and
magazines that will print his dopa.
THAI there is a great surplus Of
crude coming up" which Of course,
has a depressing effect on the mar
ket for refined stuff, as buyers who
place any faith In his prediction are
slow to make contracts Tor next
years supply.
Mr.. James has only to walt until
there are few pipelines into the
Mexia field ana he will fin1 that
the Independent refinor Is up against
the real thing. when Il comes TO get
ting "A supply OF crude to SUI, his
requirements. and even now, M"Nia
crude, being hard to refine, Is not
what tho independent ryfinrr It's
looking for. The pipeline people
themselves know better than Mr..
James ever did know, how serious
the situation really ~. and they also
know that the Royal Dutch Shclt
people will butt In with a good big
substantial offer az high prices, just
as soon AS the market shows sign
OF weakening ana the oil producer
shows that he Is worried
In the meantime thcro Is O lot
Of oil at Mexia that can bo bought
FOR 81 or less and it a. high gravity
stuff but requires cracking process
to make II available for other than
large yield OF kerosene. ana kcrn'
sene Just now IL drug on tn mar
ket The oil is said not to eytportt,
easily and there Is a world of tauk'
being built, which viii result iu O
big profit to the owners before an
other year rolls around, But ate
all In said and done Is Is good tim'
10 take IL easy In drilling here.