Great Falls tribune. [volume] (Great Falls, Mont.) 1921-current, 1922-06-04

do things. not merely sell stock ana
live on hirh salaries with only a few
dollars ever going into the ground. rms
'fly by night class is the reason we
have blue sky laws. not that the
blue sky legislation ever catches any
of them. The laws are easy to evade.
THE oil industry is now the thiro
in the country. In 1859 1t made ls
start with the well sunk by francis
Drake and at that time the production
was 1900 barrels for the year. Ia
1921. the production Of crude was
47O.OOO.OOO in the United States. There
is a tremendous demand for crude ~
a thousand uses from paraffine to
medicine.
Oil Is Imported
'The demand is increasing so rapidly
that the supply in sight can not take
are of it. At present the increase ls
about 15 per CEN a year. Last yea
we had to import 120,0OO,OO0 barrels
from Mexico land this year Will prop
ably import Us much. The United STATES
geological survey reports that at the
present rate of consumption, the supply
will be exhausted in 20 years and as
suming the Is per Ger" increase, would
be exhausted in Is years.
I'VE face a pronounced shortage and
with the basic price now about S2 or q
little more, the indications are that
next year it will 60 to So and perhaps
81. At present there is not a single
new large field outside of northern
Montana. In Texas, the Mexia field has
dropped from 10000 barrels to $1,000
barrels production.
The greatest field in sight is the
Kelvin Sunburst field. This field is a
large fold. probably four or five town
ships, although it is not yet well de-
fined. If it is all this, it will be the
largest field in the United States.
Production In Madison Lime
Production Of the Gordon Campbell
well is not yet determined. 1t is esti-
mated at from $50 to 500 or 800
barrels a day. l think $50 barrels would
probably be safe estimate. but if it
were but 50 barrels it would offer a
wonderful opportunity to oil men. l be-
lieve that with the field once estab-
lished, wells can be sunk for from
$4,000 to $4,000 each and operating
economies can be instituted permitting
the most efficient operation. While
some may contest the assertion, l be-
heve that production in the Campbell
well is coming from the Madison lime.
There is some production in this for
nation in other fields, notably in Soap
Creek.
'The Kelvin Sunburst is not the only
fold on the Sweetgrass arch. Biologists
map others. Drilling this summer
should give new fields. 1t would be
safe on the basis of past development
to say that n in five Of these should
produce. 1t is possible that it might
be much higher. If analogous to the
Texas fields from 80 to 20 per cent
should produce"
Help Oil Industry
Mr.. Hager told Of the support given
the oil industry by the banks of Tulsa.
Okla. and the growth of these insti-
tutions. He made a plea for the sup
port of the industry when established
in Montana.
II van to urge you to get behind
the industry as soon as il is established.
That is not now. But when it truly
becomes an industry, ! would like to
see you consider oil in storage as good
a commodity as wheat in storage. That
is the way it is done in Tulsa. Bank
ers there consider. also, a man who
in good territory as a good risk,
although there is here. as everywhere.
the personal element. The professional