San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1923-10-07
IN
THIRD COLUMN
IN oil OUTPUT
California Maintains Long
Lead With Tremendous
Flow From New Wells.
OUTLOOK is BETTER
Operators Hopeful for Good
Year in 1924 If Decline
Keeps Up.

As q result Of the loss suffered
by the fields of Oklahoma in the
daily recovery of crude oil, the state
has dropped into third place as a
producer. California continues to
maintain its position as the ranking
producer of oil in the United States
with Texas taking second place for
the month of September.
The total recovery of oil from all
fields In the United States for the
month Of September was G9,024, O5S
barrels, according to figures lust
compiled by the Oil Weekly. This
is approximately 100000 barrels
less than was reported for the month
of August and further substantiates
the belief held by many th"t the
peak of production in, the United
States has been reached, for at least
1923, and the remainder of the year
will experience other readjustments
in the production curve.
= This small but steady decline which
has been in evidence now for several
weeks was visible during the seven
days Just ended when the daily aver
age output reached only 2.19S.S15 bar
rels a. compared with 2,257 1888 bar
rels for the previous week.
Big Year Is Forecast.
This optimistic trend of the pro-
duction column has brought about a
much better feeling among Mid-Con-
tinent producers and it is now ex-
pected that 1924 will be one of the
biggest years yet for the oil indus
try.
While the posting of the new
Prairie's schedule for the buying of
id-Continent crude oil has done
much to steady tn market in that
section, there is still some oil being
sold in the open market at prices
that are below the Prairies' level.
Some 5000 barrels of crude from
the new Wewoka district in Okla
homa II being bought by independent
refinefs at prices from 81 barrel
to as high as SIPS a barrel. This
oil runs around 81 gravity and is
being taken out of the field by tank
cars. In Kansas the Sicily Oil
company has revised its buying sched-
ule according to the new posting
made BY the Prairie with the excep-
ton Of the highest gravity which the
former company is paving only $1.45
q barrel. This is 30 cents under
the Prairie's posted price. The Sicily
Oil company purchases considerable
Kansas crude for use ut its refinery
at Ell Dorado.
Not Taking Crude.
An interesting feature of the pres
emit situation in the Mid Continent is
the apparent falling off in crude de-
1iveries Of the Standard companies.
While the purchases of the larger
buying agents have shown a steady
decline for the past four months, the
crude takings of the independents re-
finers have shown an offsetting in
crease.
The decline In sales by the larger
companies to Standard refineries can
be attributed to a number of factors
which have materalized within the
last few months. First and foremost
of these, is perhaps, the decision of
the Standard Oil company of New
Jersey, to seek elsewhere for its
crude supply which has been largely
met by Mid-Continent oil. Another
reason for the loss is accountable to
the rapid Increase in California pro-
duction and the relative low cost of
bringing that crude through, the
canal to the east coast.
These reasons are thought to be
directly responsible for the recent
downward adjustments made by the
Peirie In the crude price struc-
ture.