The Daily Ardmoreite. [volume] (Ardmore, Okla.) 1893-current, 1922-10-02
ELEVENTH DISTRICT
STOCKS ON INCREASE

DALLAS, Texas.--A crude oil situa
ton exists this year, with stocks, in
stead of decreasing during the summer,
having gradually increased with the
result that refineries and producers are
going into the winter months with a
large storage it is declared in petrol
cum report for the month OF August
in the Eleventh federal reserve district
given The Associated Press today al
the Federal Reserve Bank in Dallas.
In normal times the crude Gil stor'
age is generally reduced below the aV-
erage during the summer months and
is replaced during the winter months,
the report declares.
Firmer Tone Reflected
Most fields of this district, however
have reflected a firmer tone during
the MONTH" it is added, In Louisiana
fields. refineries are now taking low
er gravity oil at the posted price, which
in reality reflects a slight increase. II
is now the general belief that the price
on Texas Coastal oils will not be reduc'
ed. In the North Texas district spot
crude continues to bring premium oil
so to 40 cents aboN the posted price.
while no actual changes have TAX
en- place in the posted prices Us crude
oil in the major fields of this district
the future trend OF the crude oil mar
ket IS still uncertain"
Crude Increase
Despite the curtailment of drilling
ali n1ln
of the district showed an increase as
compared with the previous month. the
August recovery OF oil amounted TO
1929 1866 barrels. compared with H.
9lO.271 barrels during July. This in
crease represents a gain in the daily aV'
erage Weld of 1851 barrels. II is not
ed that every major field of the dis
trict shared in this gain.
Texas Production Up
Texas fields produced 10.247.2SO bar
,rels during August as compared with
1894 .697 barrels in July, while Louis
lana fields yielded 3,O52,6s5 barrels in
August as against 3,OO5,j74 during
July.
The Mexia district again reflected an
iunward trend in production, the daily
average flow being 3l,l2l barrels com
pared with II ,443 barrels during July
The Electra field set 4 new monthly
nroiduction record, being the largest
monthly output since the early days ol
ithe field. The daily average produc
ition for this field was 22,5lS barrels
compared with 1915 barrels in July
II is noted that the daily average pro
duction Of the Electra field has prac
'tically doubled since the first OF TINS
year.
lioneer Drops
While numerous wells were completed
during August in the northeastern ex
tension of the Pioner field, production
for the month continued its downward
trend. A sharp decline also was noted
in the stephens county territory th'
daily average being 39,s4S barrels com
pared with a daily average o. 4l'6s'
barrels in July.
Haynesville Gains
The Haynesville, La, field showed
slight gain in production. the daily aV
oroce flow for tha. month belngg o.
a72 barrels. compared with 5i.317 bar
rels the month previous month IN
Mld.Continent field again showed an II
crease. the increased output In Texas
Louisiana and Kansas having offset IN
decline In Oklahoma and Arkansas
A move to curtail drilling operation
has been gradually spreading over IN
en.re district. following the genera
cut In crude oil prices
While drilling activity reached IN
high point OF the year during Jul!
when 5s7 new wells wore completed,
which number there were AIS produ'
ora Welding an initial flow Of lls'l.
tarrels. August witnessed maieri'
falling OF. there being 47S completion
including 3i2 producers yielding an IN
tol output OF i0i.921 barre.s.
MeVia Slunping
Operations tn the MeNa field we're o
more limited scale than during the pre-
y,,us month. there being only % con
,,letions as compared with g3 IN Jul
The August complctions inclu1cd
producers yielding an Initial flow
i9SsO barrels. which compared vii
bs uroducers during July with flus
production 81 a6S7i barrels.
Drilling activities In the north Tex.
d strict slowed down. the curmilmel
Incoming more widespread during u
,arty pat, OF september as a shorla'
of water served to- retard development
The Electra field, which scored
coniplclions during August o. VINE
"a we're producers. having a conon'
initial output or ljd barrels sdstain'
serious setback during the cafly da'
Of September. when the water shor'a'
hccgme serious. so. only had this vat
shor,aqe IN the Electra field hal the
f.,t of curtailiug drilling operation
,ni difficulty io obtain sufficient wav
'or pamping purposes was experience
Decreased activity also has been nc
I'd I'm the Ranger and Eastlahd ter
ory.