The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1922-01-29
ADDITIONAL OIL NEWS
I.OMORE OIL COMPANY
ONE OF MOST FIRMLY
ESTABLISHED KNOWN
Record of Local Concern
Shows Marked Progress
In Activities

local concern which may well be
regarded as one of the most firmly
established in the industry is the Lo.
more Oil Company. operating in the
shallow field Of southeastern Steph.
ems county. Examination of the books
Of the company reveal that the firm is
absolutely free of debt and has on
hand sufficient material and cash to
drill another well.
Recent election of officers for the
ensuing year resulted as follows: Guy
L. Cobb, president: Roy NJ Johnson,
vice-president and John w. Carlock.
seTetary-treasurer Board of directors
includes: Guy p. Cobb, Roy NJ. John
son, John w. Carlock, Leo ii. Sinclair.
all of Ardmore and James Leftwich,
Of Comanche. Mr.. Sinclair, who is also
superintendent in charge of the com.
pany's operations is new member of
the board, his election being resultant
OF conscientious and capable services
performed during his employment
with his concern.
Under the leadership OF Guy T..
Cobb, the company has progressed in
excellent manner since it was origin
ally organized five years ago with a
capitalization of sac, 900 which was in.
creased in 1920 to 100000. All the
stock has been sold and issued. The
Lomore company is a close corpora.
ton with so per cent of the stock
owned by five stockholders A ten
per cent dividend was paid by the
company in 1920, but none was paid
In 1921, due TO the fact that the 10.
more people must drill six soffset
wells as soon as water with which
TO carry on operations is available.
The properties of the Lomore com.
pany at the present time include II
producing oil wells and one gasser To-.
Gated on tracts totaling 24O acres in
proven area Total daily production IS
approximately 100 barrels.
The Lomore company is the pioneer
of the shallow area known as the 10.
more field, and drilled the second well
In the territory, diagonally offsetting
the Texas company's discovery well.
incidentally. in mention of the dscov.
er. Of the Lomore field, it is interest.
to note the the discovery was
more or less OF an accident" The
Texas well had not been spudded in
originally in search Of oil. but was be.
ing drilled as a water we'll to obtain
supply for deep test which the
Texas people had contracted to drill
after purchasing lease on 1OOO.acre
tract from the Skelly company. In
drilling the water well. the Texas
company failed to find water but
instead developedan barrel ,produc.
or in sand at depth Of 49S feet.
Since the Texas discovery, the field
has been extended and proven from
the center OF section s, 2s-4w, to sec
ton 22.ls-5w, distance of about eight
miles and near the center OF the pro.
ducing area the width is at least three
miles. The total daily production of
the field at the present time is $500
barrels.
The oil is being quoted at Healdton
price which Is at the present time
Sl.3O, with the Magnolia Petroleum
Company as the sole purchaser in the
field A strong effort is being made by
the Lomore area operators TO induce
a second pipe line company TO enter
the field. Within six miles of the ter.
ritory. other carriers have pipe lines
in operation at the present time
The wells In the Lomore field are
now producing from at least three
sands at depths Of 500 feet. 700 feet,
and 500 feet.
The first wells brought in In the
area in 1918 are still producing with
in two barrels OF their original pro.
duction and the field has every indi.
cation OF being n very permanent one