The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-08-29
Statement of the Shutdown
and Storage Committee

At tho weekly meeting Of the shut
down and storage committee held
Monday morning the development
situation in Kansas and Oklahoma
was gone over in detail and the
committee Issued the following
statement.
"It appears from reports made TO
the committee that on August II
there had been 303 drilling wells
shut down In oklahoma and that
this number had increased to 1853
by August 81 This does not take
account OF locations abandoned and
other details OF the shutdown move
ment. all tending 20 a decrease OF
operations. Reports from every
large producing pool In the Mid
Continent field indicate that produc-
tion Is decreasing and that consid-
cradle oil is being stored by the op-
orators But the committee again
urges individual operators TO bald
tanks 10 store "a portion of their cur
rent production or to utilize the Of
fers made by Independent refining
companies to store their oil on the
warehouse receipt plan. The COM
mittee believes that there is every
indlcftion that all oil stored Will
bring "a profit I'm Hix months. And
that II during said six months op-
orators viii continue to curtail their
operations, the oil industry in tho
Mid-Coutolnent field Will bo in much
healthier condition by the end Of
that time.
"a telephone message from the
Phillips Petroleum company states
that Il owns all the leases within n
radius of n mile and half OF It's
new well In northern Butler county
and that operations viii be held
down to a minimum and that tho
company is building two b5, 000-bar-
rel tanks TO take care OF its produc-
tlon IN that general locality no that
the oil will not go on the market
at this time.
The committee has now heard
from practically every large produc-
er IN the Mid-Coutinent field md
every report indicates and makes tho
definite statement accompanied by
proof that operations are being cur
tailed and limited to necessary wells.
Only IA new wells are being drilled
IN Hewitt district as against much
larger number month ago ana
much of the OH now being produced
IS going into private storage SINH
lar reports have heen received tyca
Brlstow, Burbank and points IN
Texas.
"A wire from the OkmulRoe Dis
trict OIL and Gas association by its
president @, A. clifford. assures the
committee that It Ia doing every
thing possible to promote the shut
down ana tank-baIlding movement
in that district and that the opernt-
ors there are In fun accord. The
wire makes the further specific
ment; The Okmulgce fiCld is sixty
20 seventy per cent shut down now
aH TO drilling nearly an arc
shutting down as far as possible. "
The committee believes that II this
same spirit pcryados Tho entire Mid
Continent field, the condition OF
waste and decentralization which has
heretofore obtained, VIII bo speedily
corrected, but warns the producers
that selfishness must bo laid aside
and the fullest measure OF cooper.
alton given by all II the movement
Is 20 be n permanent success The
committee finds that there Is plenty
OF tankage available and urges The
producers TO place their orders now
so as to insure obtaining same at q
reasonable cost aud before the IN.
crease in price of tanks, which IN,
committee feels viii inevitably
come"