San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-02-18
GOOD Times
FORPRODUCER
r SEEM LIKELY
Recent Developments lndi-
cate Prosperous Year
in 1923.
OUTPUT ON DECLINE
Producer Is Benefited But
Refiner Is in Pre-
dicament.

Houston, Tex, Feb. 17.-Optimism
is growing day by day in the oil in.
dustry, and the producers feel that
they will have the most prosperous
year in 1923 since the days Of $3.50
oil.
The week ending February 10 saw
n decrease in daily average produc.
ton of about 2S,0G0 barrels in the
United States, notwithstanding the
fact that California showed an in
crease of $4,000 barrels 4 day. Dur
ing this time the consumption is hold
ing its own with prospects for the
biggest season ever known for the
gasoline man.
The decline in production is due TO
the bad weather of the last several
days. and the week ending February
II likely will show up worse than
ever. Oil field workers are accus-
toned 10 work under all kinds of
conditions, but zero weather is a lit
tie too much for them. Road con-
ditions have been worse than bad and
III MANY lhoNdANNC OtdNc NOuAh bt Va
more use than wagons and trucks.
Joy for Producer.
The various conditions, including
price boosts, are working TO the best
interests Of the producer, and for a
time the refiner is caught between
the "devil and the deep blue sea.
He has not been able to adjust his
prices 10 the new crude prices and
many sales have gone by the board
because the refiner could not make
his price suit the purchaser who has
been accustomd to getting by with his
haggling for lower prices.
West Coast crude, in greater lots
month by month. is coming TO the
East Coast in competition with east
ern production. Mexican production
is holding its own; in fact, shows a
small increase, but cannot be expected
to show any increase over the next
several months. The wells in the
light oil districts of Mexico are be-
ing pulled for all they are worth
and this means that salt water will
make its appearance all the quicker
The companies with production in the
South Mexican fields have to keeT
their boats moving and have contracts
to fill. Naturally. they are holdins
up production the best they can, ant
are letting the future care for itself
So Mexican oil will not work any
damage to the American producer
this year.
California OUTPUT Gains.
California production is growing
stronger. even with many of the
heavy oil wells being shut in. The
week ending February 10 saw an nv.
crage daily production of 5G5000 bar,
rels for the West Coast pools, an
increase of 5000 barrels over the pre-
ceding week. Texas production was
off about 12.000 barrels n day. while
the Arkansas fields show n decrease
If about 5000 barrels. reduction in
the mountain states sluTprd about
was off about 1000 barrels.
Word from oklahoma late in the
week was that five wells had becn-COm-
Melted in the new Tonkawa pool. good
for a total flush production of 10000
barrels. In this field - wells are
on the sand and should be in the pro-
ducing column in the next ten davs.
So much for Oklahoma. whose daily
production is now 444190 barrels.
The North Texas refiners grr find
ing that the fuel oil market il not
any too strong. end boosted prices
are not setting well. Mexican Bunker
oil is I'M around % cents n barrel
and Mt Atlantic ports fuel is mp from
ten 10 fifteen cents barrel.
Oklahoma indcnendeut rcfinPrs arc
still nayinr rremiums for crude. much
IN the satisfaction Of The producer.
The premiums in North Texas are not
quite so brisk with the new crude
prices.