Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1921-05-12

VIZ ASHlNGTON, D. C., May 7.-What the
wv scientists say is the last known great
oil field in the United States will be
thrown opel to the public under the oil
leasing act on June 18th. al preparations
for that event, which is expected to put
t. ousands of new gusl ers into action, are
now being made by the department of the
interior here.
The field in question is the Salt Creek oil
field, near Douglas, Wyoming. The leases,
on tracts of not more than $40 acres each,
will be sold at public auction in Douglas, be-
ginning en- the above date and continue I'M
til all sold.
Under the oil-leasing act of 1920, it is ,ro,
vided that proven oil lands in the public do
main shall be disposed of in this way. The
lease a given tract will be sold to the
individual or company offering the highest
amount for it. In addition to this bonus, the
individual must give the government Is to
33 1-3 per cent of the oil which he extracts
as royalty. The fee title to the lands re-
mains in the government.
OF the money which the government re-
ceives for the sale of the leases and from
royalties, So 1-2 per cent must go into the
general reclamation fund which is used in
placing the arid lands of the public domain
under irrigation; 81 IL per cent of the
| money goes to the state of Wyoming for use
| in the development of schools and roads, and
the remaining 10 per cent goes into the
treasury of the United States.
1ulS opening OIL In6 OdlC CT66k Il9lQ may De
regarded as the part Of the last act in the
drama of oil production here in the United
| States. Ever since the great value of petro-
| leum began to be realized, oil booms have
been one of the most spectacular features of
our national life. The history of them is
rich in sensational incidents of fortunes made
| in day, of fierce struggles over titles of
gushers worth millions.
| The openin,; Of the Salt creek field will
not repeat any OF that history There will be
no "Coal-oii Johnnies," no unexpected gush-
ers, sudden and easy fortunes, and above
| all, none of that waste of precious sub
stance which characterized the early booms,
| Science, business and government will CO.
| operate to make the development of the Sat
| Creek field an orderly and conservative affair,
| 1t will produce less melodrama and more oil
| than the older fields.
Model Field
For one thing the scientists say that this
| field is an almost ideal speciEen-that is, it
| follows the laws which usually control the oc-
currence of oil almost without exception. In
| the old days, boring an oil we'll was great
speculation. But science has been constantly
| learning more about the nature OF oil de-
posits, and it has learned so much about this
| oil field in particular that it has made maps
and diagrams showing exactly where the
oil is and how : may be reached. When
man buys lease on a section of this land,
he will know out how niue" oil he is buy
| ing, and how Ceep he Will have to bore TO
get it, AS result there will be no specula
tive excitement about the undertaking. 1t
is not improbable that there will be some
brisk trading on Wall street in the stocks of
these companies, for the very reason that to
an unusual extent they will represent known
| values.
The undeveloped character of this field
may be guaged from the fact that it is esti-
mated to hay a capacity of 200 wells, but
that only 200 wells are now in operation. 1t
is expected II produce in all about one-third
of a billion barrels of oil from the two upper
oil sands wLict have already been tapped.
Below these are three other oil sands which
can be reached. The whole product of the
| field is expected to be not far from a billion
barrels of OIL and 1t will take about quar-
ter of century to exhaust It, Incidentally,
when that quarter of century Is over, al
most the entire oil supply within the United
| States will probably have teen exhausted,
and that struggle for oil which has become
the leading feature of the worlds industrial
| life and the leading motive of its interna-
| tional politics. will have shifted forever to
other scenes.
The field is described as affording a good
opportunity for those who wish to enter the,
oil business, but it should be fully under
stood that this is an investment for capital
and affords no opportunities for the man with
no money or little money. The prospective
operator must be prepared to pay down one