San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-03-09
Mutual Oil Company Pays
Million Dollars for Coun-
try Club Block.
c ONTROL OF POOL
Several Operating Com
panies Are Taken Over by
$4,000, 900 Concern.
Tulsa, Okla, March s.-A second

AuAsa, ohid., -udA ou Ga etcohu
million dollar deal by the Mutual Oil
Company in the Country Club pool,
four miles north of Tulsa in Usage
county, featured operations in the
northern Mid-Continent area last
week. Another deal of some magnitude
was the taking over Of the Davis &
Younger holdings in Oklahoma by the
Oklahoma Oil Corporation, company
recently organized BIZ Scott Ferris.
former Oklahoma congressman and
until recently an official of the Middle
States Corporation. While the Davis
K Younger producing properties are
small it had much undeveloped acre
age scattered over the state including
some valuable offset acreage in new
pools The company which has cap
ital of S10,000,000 is acquiring other
properties in Oklahoma, Kansas and
Texas. =.
Bringing in of new wells more i'm
p0rtant for the new territory they
open rather than for size in the Sayre
field in Beackham county and the
Wetumka field in Hughes county,
both in Oklahoma, attracted the most
attention since Burbank began to show
decline the past week. Tulsa con-
tinues in the limelight with another
big well at its back door a few miles
west of the oil metropolis. The de-
cline OF new production at Burbank
has affected the Oklahoma output
which is now barely holding the $685.
000-barrel mark. "
Second Mutual Deal. =,
Mutual Oil Company secured COM
plete control of the Country Club pooh
So aArNl, e H,,I
cent discovery of a deep sand and high
by second million-dollar deal en-
ccuted last week when it purchased
the Peer Oil OBSERVATION-DISCLOSURES Pc
troleum Company joint holdings for
81 100000 cash. 4 week previously
the company purchased controlling in
terest in the Munn-W Glidden
properties for reported consideration
Of 100000. BY the latest transac-
ton the Mutual acquires properties
aggregating 800 acres Of proven ter
ritory with five producing wells maxi
| ing approximately $50 barrels a day
at several months old. The company
has now invested close to S2.000,000
in about 200 acres of proven oil leases
in one field and completely controls il
1t is understood on good authority
that the Mutual Oil Company has con-
Guided negotiations for the purchase
Of the Sapulpa Refining Company
plant from the stockholders on the
basis of so cents on the dollar for
their shares of stock. The Sapulpa
company's plant is one OF the most
modern in Oklahoma having a daily
capacity of 1000 barrels of crude a
day and is said TO represent an invest
ment of at least 81 100000. The plant
has been shutdown since the company
was placed in receiyership early last
fall. The final closing of the deal for
the plant is subject TO the approval OF
the receivers and the court. This is ex-
pected to be obtained very shortly. y
New Wells Bring Districts Back
In the Sayre field, Beckham county,
extreme western Oklahoma, and bor-
dering on the Texas Panhandle where
considerable drilling is now in prog
ress. Carter Oil Company brought in
its No. . Windle in section S1-9-2S
west, south edge of the field, for ini-
tial production of 600 barrels at
depth of 2966 feet. At last reports It
had decreased its flow and made 45S
barrels the second "a hours thereafter
decreasing on account of lack Of gas
pressure. 1t has been drilled only four
feet in the sand is expected TO in
crease when drilled deeper.
In the new Wetumka field, the Ok
lavania Oil Company and Gladys
Belle Oil Company joint well in see
ton 1900 has made 500 barrels after
being drilled deeper 10 1880 feet,
Kingwood Oil Company No. 1 Kirby
in section 800 in a new area several
miles north of the Oklavania well
made $50 barrels first n hours after
deepening 10 a total depth Of 1906
feet. 1t has been drilled but five feet
in the sand and is one of the most
important new wells on the edges OF
the original Wetumka development.
Efforts are being made TO connect the
two fields which lie about two miles
apart as noted by the above wells.
The largest well in the Bruner pool.
five miles west of Tulsa on the Sand
Springs paved road, was brought IN
the past week by Thompson & Black
in their No. ! BruSer, section 6-19-12.
which made approximately 1000 bar
rels first ~ hours at only six teer
in sand. found at 2046 feet. The OIL
was 3S.5 degtees Baume gravity.
Decline OF Burbank field where new
flush production fell off several thou
sand barrels with bringing in Of in
side wells instead of line wells as
noted, has materially st-
fected the Oklahoma output since
most Of the other fields are holding
firm though on the verge Of decline.
The improved outlook in production in
the northern Mid-Continent causes
some authorities 20 think that an IN
crease in crude prices viii materializs
soon.