The Chickasha daily express. (Chickasha, Indian Territory [Okla.]) 1899-current, 1922-07-13
HERE
BUYING ACREAGE
To DRILL WELLS
Bio Boost Seen for Grady oil AetIvl.
ties as Result 100000 Foot Gas.
ser; Lease Market Shows
Stronger Today.
FIELD BEING HELD IN
GOOD SHAPE FOR WORK
Leases In Larger Blocks; BIG Com.
panIes and Leading independents
Get Busy; Many Drilling
Contracts Being Reported.


soon see the start OF an intensive
drilling campaign over consider.
able area southwest OF Chickasha as
result Of the blowing In Of the
100000 foot gasser Of j. u. Nichlos.
265n.Sw, was forecast In activities
this morning.
These have developed from tho
first wild rush OF buying and selling
leases when the oil fans. operators.
lease hounds and land owners set.
tied down with the Gaping OF the
well. OIL men are pointing out that
the territory around the Nichlos we'll
is In better shape than was the
Cement field as concerns develop.
ment. for the reason that the leases
TO start with, are not cut up in small
tracts OF 10 and 20 acres. Most OF
the available leases are in 40. 60
and so acre blocks. being therefore
more attractive TO the big operators.
Speedy Development Seen.
The presence here OF big company
representatives as well as big in,
dependent operators In pers on 4,
heightens the chance for speedy de.
velopment oil men here are stating.
Some of the biggest independents in
the state we're here yesterday after
noon and were buying acreage.
Among these was Eddie Ramsey,
representing interests that formerly
controlled the Fortuna Oil company.
discoverers of the Cement field. With
him was his geologist, who had pre-
viously mapped the structure around
the Nichlos well. He checked over
the territory again yesterday, result.
ing in Mr.. Ramsey purchasing the
west half of the northeast of the
southwest and the east half of the
northwest of the southwest of sec
tion 23-5n-Sw. The price paid was
so 900.
Big Folks Buying.
Representatives Of the Roxana were
getting their feet wet during the day.
Purchase of the northeast of the
southeast and the south half of the
southeast of the northeast of section
1853. The price announced on this
purchase was $4,000.
Mr.. Ramsey stated to local oil
man that he intended to start prepar-
ations Immediately to drill. He did
not give an estimate as to when he
thought operations on his property
would start, but intimated that 1t
would be as soon as he could get
the necessary arrangements made.
The Roxana representatives did not
state in so many words that they In
tended starting developments right
away, but local men in touch with
the oil situation, state that the Rox-
ana without doubt purchased the
leases for drilling purposes. They
predict that this company will be
among the first to start new wells.
Added to this is the certainty that
the Carter company will start
direct offset to the Nichlos well right
away. Many Chickasha oilers be-
lieve that the Carter will have the
first rig up among the new ones and
will be drilling in the matter of a
comparatively few days.
Leases Mounting Steadily.
Lease prices are going higher. but
are staying within reason. Oilers
also point out that this will be u
real blessing in the end as it enables
more extensive sales and permits
the real operators to get in at prices
at which they can afford.
The top for the first day ran $3.50
an acre. The next day it went to
$500 and yesterday the biggest price
paid for leases and reported definite
ly was $3.50. There was a report yes
terday evening that $500 an acre had
been paid for some close in stuff.
This, however, could not be definitely
checked up as correct. 1t was pre-
dicted that the peak has by no means
been reached.
In addition to the drilling contracts
reported yesterday, there are reports
today of some half a dozen more In
the making. These locations were
not ready to be given out at this
time, but it was known that those
interested were really talk ing
turkey"