San Antonio light. [volume] (San Antonio, Tex.) 1911-1993, 1924-03-16
INCREASE DUE
ITO TEXAS POOLS
AND NEW WELLS
Corsicana in Lead With
Several Large Compile
lions in Few Days.
CALIFORNIA UP, TOO
Gain Of 10000 Barrels on
Pacific Coast Tends to
~ Swell Production.

With the Corsicana-Powell field
still showing signs Of life in the shape
= 10000 barrel oil producers, the
essraes daily crude oil output of the
Omitted States has started upward
again and the last week brought an
increase OF more than 1900 barrels
day. This puts the daily recovery
at 1926, 100 barrels for the last seven
days, according to figures compiled by
The Oil Weekly, as compared with J..
g13,3SO barrels for the preceding
week.
Practically all Of the increase is
credited to the fields of Texas where
production jumped from $50 ,535 bar
rels last week to 397, O10 barrels for
the week just closed. A slight in
crease was shown in Kansas and Ar
kansas, while California reminds one
of old days with an increase in daily
production of close to 10000 barrels
over the week.
Corsicans Very Active.
At Corsicana where interest has
been revived by the big showing made
by recent compilations, the daily out
put for the week reached 140.350 bar
rels or an increase of $4,000 barrels.
This large jump is credited to several
new wells in the field which are rivals
of the original producers in the section
for high flush output.
The general Improvement OF the
crude oil price market is crearly evi-
dent in the fields at this time and the
next few months are expected to ma
-.AI,,of,an fah1oo
ward. Drilling activity is already at a
high point in Texas and the promising
sections recently brought to light will
no doubt bring drilling campaigns
during the summer months that Will
approximate those OF the boom days IN
North Texas.
Crude Market Strong.
The tendency in the Mid-Continent
crude oil market is still strong and up
ward. The advance in price made. by
the Prairie Oil and Gas Company last
Saturday to all intents will react and
later become an added impetus to the
desire for more. crude oil. The
Prairie's increase which ranged from
10 to % cents was followed by slml-
lar increase in both the East and Mid
die West.
Refiners In North Texas, Okla
homa and Kansas are using more
crude now than was the case month
ago. a survey just made discloses.
This reflects the condition of the
crude market in so far as movements
Of on north and east are concerned.
Tho crude shipments of the Prairie Oil
and Gas Company. dominent pipe line
company in the Mid-Continent terri
tory, for February shows a loss but
indications now point toward revival
during March.
Outlook Is Good.
These factors would indicate that
the outlook for spring and summer in
the crude oil market. is good. The
steady strengthening in the Mid-Con-
tinent price structure also has char
acterized the price structure in other
sections of the country and has COM
bined to render more solid the basis
for a future demand. While the pres
emit price level does not afford wide
margin Of profit. yet conservative ex-
pjoitatio can and is being carried out
not only within proven areas but in
wildcat operations in various sections
of the country and with proper price
encouragement these operations may
be expected to be further extended as
omen weather advances.