The Morning Tulsa daily world. [volume] (Tulsa, Okla.) 1919-1927, 1922-01-08

Would Appear That the
Prospect Is Brighter

The fact that Mid-Continent crude
ia holding it's own after the drastic
slash in Pennsylvania crude oil
nrloes. is considered = good omen.
II is also evident that the Mexia
field is not going to put the pro-
duccrs of the Mid Continent out OF
business, as there appears to be an
ahrupt drop In the production Of the
biz wells down that way.
Yesterdays arrival Of the OIL
Needy, published ut Houston, was
huito an event inasmuch as 1t car
Eed what purports to be complete,
repurt of all the wells that have been
producing In the MeNia field In de-
iau. this with the exception OF the
humphreys Pure oil company wells
which are given In a bunch, but all
according to the above authority
have shown a marked decline.
II makes the positive statement
mai during the week ending jan
nary the productions was only
$4,000 barrels a day as against a
total daily productions Of l5S,OOo
barrels on the last day of December.
This a rapid decline and mo mis-
take
There has been a conference at
Mexla at which all pipelines were
rppresented, and the chances are IL
,yes called as the result of the above
decline, but just how much will be
given out for publication Is still
nroblematical. In the meantime
There is no one who would see the
Mexia field 60 into water, but nice
fentlemanly decline in the produc-
tion of the big wells would certainly
have a steadying effect.
There are many reasons for con-
pratulations, as for Instance; The
nurchase by the Transcontinental o'
the holdings of the Continental. Pc
troleum corporation at Bristow. II
shows that the big concerns are
turning their attention to Oklahoma,
after most OF the big people have
been flirting with Mexico, much TO
their sorrow.
Nor is this all. One of the largest
nipeine companies, namely
Texas company. has Increased It's
scouting force. which means that II
has Hnally taken a tumble to the
fact that Oklahoma offers the best
opportunity for the production Of oil
OF any Of them, and the Texas com
pany's example is sure to be fol-
lowed, although the latter failed IN
getting its share of oil for storage
in the north Texas field. and also
turned down Mexia when that
frisky pool was In its infancy. .
II should he borne in mind that an
oil statistics prove that at the end
OF November, the production and
consumption of the United States
was running neck and neck. one
short month should not change the
situation IL the big purchasers ol
crude are to take the large view OF
things, which President Teagle
promised at Chicago in December.
It is not likely that the purchasers
OF crude oil will care to so on rec
ord as being misled by the fact that
the Mexia field has been over-rated
and thus put themselves In a position
OF being easily influenced by rumors
but on the other hand it is extremely
probable that all will agree that the
main thing is to get supply ol
crude in storage while the getting Il
good
The decline of one cent per gallor
in the tank wagon market at Mime
apolis and St. Paul, is considered
as being a readjustment only and
bad one at that. as the best business
done in that neck OF the woods hai
been done by independent opera
tors who have increased the price
rather than lowered II.