The Kevin review. [volume] (Kevin, Mont.) 1922-1929, 1926-08-12

alton corporation, now owned b. the
Texas & Pacific Coal company of
Fort Worth, Texas, is interested in
the northern field.
Mr.. Hamilton was instrumental in
interesting Canadian capital in the
Queen City Oil company, which has
proved to be one of the most specta-
cular and important producers in the
Keyin-Sunburst field.
The deal just closed by Mr.. Hamil-
ton and Mr.. Peters, the largest by far
that ever has been negotiated in the
state, indicates the interest which the
larger companies are manifesting in
this field and, oil men believe, is but
a forerunner of a development to
come which will exceed by far that of
the past, as wonderful as it has
seemed
Wells Only Year Old
The Rice-Fulton leases, located just
few miles east of Kevin, were open
ed only little more than year ago.
In the July just passed they produced
more than 100000 barrels of oil, in
June 100000 and in May 100000, and
up to date has produced total OF
100000 barrels of oil It is the an
nounced intention Of the new owners
of the property to push development
until the production is $4,000 barrels
daily.
Only little more than year ago,
Rice, w. M. Fulton and w Fl. Essex.
who have since disposed of their in
terests, begun the development of the
tract with capital which did not ex-
ceed $4,000.
Measurements taken at the Rice
Fulton lease wells July 20, showed
that the wells on the tract were pro
ducing $4,000 barrels daily, a record
which makes it even at present pro-
duction, one of the premier oil prop
critics of its size in the Rocky mount
ain district.
On July 20 the Rice tract ran 5000
barrels and the Fulton tract 8,400,
total of 144,60O barrels for one day
The Rice-Stannard No. 13 produced
200 barrels within three hours after
its completion and then had to be shut
off because of lack of storage 1t
probably is the largest well complet-
ed in the field to date, but due to in
sufficient storage it is likely the ex-
act initial production never will be
known.
The production shown by the Rice
FMton leases on July 30 is all the
more remarkable because upon that
date only two wells were open on the
Rice tract the Rice-Stannard No l
and No. 19. A total of SO wells have
been completed on the leases and US
uslly oil is taken only from IS.
Ends Close Contest
eve were successful in obtaining
this property" Mr.. Lewis told the
Tribune's Los Angeles representative
Monday, "only after a close contest
with the California Petroleum and the
Standard Oil Of California, who also
were bidders.
"By the use of an airplane we were
enabled to reach Shelby one hour
ahead of the agents of the California
and were successful in clos
ing the deal and placing the property
in escrow. This is one of the most
important purchases of proven area
concluded by California company
this year and should prove of consid-
srable value to the California Eastern.
confidently believe that were this
property in California it would be
worth $1OOOO,OOO to the industry.
The names of the Julian and the
Marine corporations will disappear,
lewis said, when their assets are TAX
IN over by the California Eastern Oil
company, which was granted char
er in the state of Deleware last week.
rhe total assets for the new company
Mr. Lewis estimates at $91,745.072.
rhe board of directors OF the new con-
Germ will be nine in number he said,
md their identity will be announced
shortly Fails Tribune.