San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-04-13
PRODUCTION
DROPS $500
bb[S. IN WEEK
Scattered Declines in Texas,
Arkansas and Louisiana
Shove Output Down.
MARKET Is UNCHANGED
With Spring Gasoline Con-
sumption Coming, Prem
iums May Be Paid Soon.

With total recovery of 1924 .96O
barrels of crude for the week lust
closed. production for the entire
United States fell approximately 5000
barrels below the amount reported
during the prior eight days. The
bulk of this amount came from wide
ly scattered areas. California held
her own and the Mid-Continent dis
trict showed an increase of slightly
more than 10000 barrels. However
this was offset by declines in other
fields. principally Texas, Arkansas,
Louisiana and Mountain states.
Drilling activity held up fairly well
and several sections reported more
competitions than last week, but the
wells were not of sufficient size to
offset the natural declines that is now
going on in practically all fields in
the country.
There was little change in the
market situation over last week. The
Standard of Louisiana advanced the
price of Bellevue crude 20 cents, but
no other grades were affected.
Begin Paying Premiums.
In the Mid-Continent area it is ex-
pected that there will be n more or
less widespread resumption of the
practice of premium paying on a
more extended scale than has obtained
for the last three or four weeks. The
change in weather conditions that ex-
tend sover the country generally, al
most makes this n certainty. Warm
or weather always means an impetus
TO gasoline consumption.
In this connection it is interesting
to notice statement made by W. II.
Gray, last week before the National
Petroleum Marketers Association
which met in st. Louis. He said that
further price advances in the crude
market arc inevitable. He stated
that only a few companies have
crude in storage and that by August
these stocks would be drawn upon at
the rate of at least 100000 bar
rels per month. Purchasing COM
panies that are not connected to re-
fineries are conserving their crude,
he declared further, and the price
will advance as the draft on storage
becomes more apparent.
Guessing in California.
California operators are kept guess
ing on account of the way produc-
ton in the Torrance field is wig
wagging just now. During the past
week the daily average production
was around $4,000 barrels against
$4,000 barrels during the previous
week. In this field total Of 81
wells was completed with a flush
production of 1880 barrels. This
included five wells producing 1000
barrels and over and a number pro-
ducing between 500 and 500 barrels.
In spite Of the increase of approx
| mately IL 900 barrels at Torrance.
production in the Los Angeles basin
was off about 600 barrels for the
week. This decline was offset by the
opening of number of wells that
have been shut in and production
| for the entire state was held at the
same level reported last week. 1t is
rumored that the month of April may
see another addition TO crude storage
and it is thought that gasoline stocks
will also be increased. Considering
these predictions. there is little
chance for a price advance on the
west coast.
Fewer Wells Drilling.
Only Is wells are actively drilling
in the Santa Fe Springs field at the
present time and production is de-
| clining each week. Water is slowly
encroaching Mt Long Beach and pro-
duction is declining at the rate of
about 1000 barrels q Say. Compton
was quiet during the week with no
new developments of importance.
In Oklahoma, interest was conferred
in the Stroud pool in lincoln county
where the fifth producer for the field
was brought in for 1900 barrels. This
was the Zollers 3 belonging to the
Roxana company. The Cromwell
pool in Seminole county is still at
tracing attention. The discovery
well is still making about 1900 bar
rels of oil and the field is producing
about 500 barrels from ten wells.