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Texas Oil Gazette Newspaper Archive: November 29, 1920 - Page 1

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Publication: Texas Oil Gazette

Location: Fort Worth, Texas

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   Texas Oil Gazette (Newspaper) - November 29, 1920, Fort Worth, Texas                              READERS IN EVERY CLIME OIL NEWS FROM EVERY FIELD Greatest Newspaper T LOUISIANA OIL NEWS 1020 AN INDEPENDENT NEWSPAPER PUBLISHED WEEKLY N THE INTEREST OF THE OIL INDUSTRY ALL BRANCHES OF OIL INDUSTRY COVERED BY US EVERY WEEK 2 38 FORT NOVEMBER 1920 PER YEAR PER lOc S WEEKS RECKENRIDGE COM IS A GREAT Jake L Millionaire Oil Man of Dies Result w Bullet Wound Woman is Sought BOOM SPREADS I KXTInVOS on1 ACIIOSS STttlll IONS COIiNTV INTO to tho The chief completion the woek in the field was tlnu of the 1 1 by Snowden Me SiVjiiy which was Iho of the Tho well Is milking bar rels and getting It canio in on Thanksgiving day and Jl runic in making barrels bill rapidly incrnosed thlH The well is feel due north of the in Rreciv It is feet dorp and the Band hits boon penetrated two and a half only other completion of any HOrtlhia well of the TJnlou OH northeast of which oil Monday making IHJII cubic lcit Of The Texas Un ion is o CaliCornfa The gaa lilpott into the Texas n ml G territory north of Bretken ridge In fining In for a hlg play now al thungh the BrecUeuridge field is of ciiiirsi booming along nn per Activities are spreading in fo iho TyanBliaBvillo territory in Young county and in tho vicinity of More than 10 locationK hivo hion Hint section during the Uint work according to reporls re ceived hi roafta leading into the terrl torv Juivo Jiai much to do with the gaining which imiloala that the northward lieojni oporntorn will reach its i rentetit imnortnnoe early In the ihan next ho time commonly believed by observers to lie declined as the per iod of the northward For many it haa been the opinion ff men hUJintitoly inlereKted in tho iiirihwnri uxtfiiHion that activities would speiU oven over the frontier of Vouwi county and the It not that I move mem would fiHKUinu considerablo linvntsitc Jias been out at Sutith Hend an will be iiceording to observcrH who cil northward Ircpa for establinhint a newspaper plant nro iilicndy nnderstood lo he under Six ago tie tflte of tho tovvn hurl but fifteen lly jn improvised wooden Miid Now its ac cording to operator who toured country in motor car exceeds no Although Actual production of wells conipleleiV Jn that part of the counlry recently Oo Hot justify in whole tho blnis of tho merefind of oil Jn three ing from down to taken authorltlea to indicate tho country to the north Broc hlgeuvcr a widely spread Is to exporlcncc a boom siml oqual to that now operating chrnrliigc and southern Sto of wells In the first t caiiHed major at be diverted that The tl JUIey rampB are located on Star Company ts Contract for Its Second Well I Star Production company just closed con TM SAN BILLION OF ASSETS ESTIMATE FOR STANDARD COMMON STOCK AVOHTIf A STItlMiT JOtlK Xet assets of the Standard OH of New according to Waller can bo coiiserva tivtly estimated at Deducting of 7 per cent preferred stock thin leaves a balance of Of J net worth the common 01 a Wall Street This disparity from inn showing of of net anscts as indicated by tho balance sheet for tho year ended is explained by TeagleH Htalonient thut tho oom to the multimillionaire oil op erator ami railroad builder and founder of oil Is ITc 17 years Death resulted nt S oclock Friday morning from a in flicted JVrank business manager for Uanion Iiuor issued slauinont that tho hul lot was firtd accidentally from an automatic pistol which 1 In mon rlcaninj in room In a local and Ihesu inclmln county and oily maintain that Hamon was A warrant has been issued for the arrest oC Clara former stenographer for a number of of tho oil She has not been located since affair n he buried Mumluy after 11 IH will Hi in slate in Companies of Kellers TlfAT WAS ItKPOUTKn DUY AT AT NEIUiSKERS TEX Convention hall here Monday from S a till Wan toil to 4Tp ay e Unite IIV AM AT iti Governor Jjowden of Illinois will attend the I In add U tun to a larga mini her oi influential republl punys assets arc onrriod 011 books Iwdorn from other parts of the nt very connerviitlve The Iluiium was regarded as the f i tract Lei wtll 2 oil tho U frowloy 20acro Icnao right in the lieurt of big pvoaucllon ut Broukon Hig timbers going out this week and derrick will bo built dw luj tho next few Well 1 hna been arming for ftnp Is making fair proe pnundlng away day and night toward tho big1 Tho HUG cess of thlH company fn being with a groat deal of ng ita policy aeoiTUi to he to go aHor the best things get The company at present contom DliUcs no wildcat operation proposoa to drill only Jn proven mainly in Stephens The nmiugomont conaJBta yet conservative who never turn but who are determined to go forward and majje of their company one of big institutions balancu at cud of after deducting the first issue of preferred indicated a book vuluu oC for the or a loss thnn what officials estimate to bo a eloper apprcixlmntion ot tht real value of tho coinitatiys TnRtanchijr somo oC the aanets which are Tragic points out that while real nnU eoulp nitiit is valued at those properties actually cost up wards of in cxcfHH of that antl cargo Mien wero down at at enti of lofit representing cost lens depreciu contract prices for r M Tcugle would mean a of for the above or lu excess of iho book This situation the result of the Standard CHI policy of carrying all ita properties at COM without any allowance for appreciation in Tn addition a depreciation charge written off on Iho value of properties each manufacturing plants being depreciated 30 per iharkMintf plants G per cent of The manner In which this depreciation mounts up iM indicated in tho plans of tho parent company Theae were at at the etose Of wan after depreciation charges com panics of Standard Oil of New have the policy their The last available balance sheet of tho riuperlul Oil CO per cent owned hy New showed stocks and othor Investments at Its ownership of 80 per cent oC the International Iulrolnum was not apparent In tho balance although this Investment was worth ntiirly 10 tirnen the flt which all investments wcru MidTexas Petroleum Buys Refinery Site For Fort Worth Plant Fort Worth Is to have another re which to bo built at onco by tho MidTexas Petroleum Corpo A fllto for the plan 1ms been secured along tho Texas in the part of the The site Ifalso adjacent to tho Cold Springs A part of tho material Iho plant which will have Initial capacity of is already on the Construction work Is to be started within a few it la an Machinery for tho plant Is to Fort it Lad boon set up for operation by the Refining A mcrtcor of tho Mindon ttcflntng company Intercuts with thoso of the MldToxaa Petroleum Corpora tion lias boon Tho now refinery will not bo a completerundown plant at but it U announced that machinery for complete rundown work will in all probability be axlded Acres of Great Texas Ranch Leased BIG president of the Cuahluff Rauch Drilling bus closed a contract for a leaso on the Kparkman ranch of ad joining the Gushing The contract cut Is for a deep test which tho Cushlng KancU Drilling association expects to start shortly alter 25 UuiTclH Ht ioi f Special to the Tho Kerch oval StroudProduction company KtroiiKcst republican in ho having recently won out over James MoGraw another wealthy oil man oC POUCH iityf for the place of republican national comniltteenmu fo that HamonK Hignaturo was given Thumilayt morning to u check with wanted to top the room Ueforo his condition he Thnrndny night ho for ire cream and a Hou from U htm In 1ortunr hi hotel o it Jnlco Hamon was one of Okla homas weiLltulfMi oil Ho had u mossed hlR Rreat fortune in a few having gone early to Iho oil Holds at HualiJton and InvoMled caro tlmn of death liamuii oil from more than 700 Ho had been of the fituhvurt in Iho oil industry and WUH a factor in saving the lleahltou field from the low price of crude oil ti few years ngo that led tho Oklahoma turproratlon Com mission to attempt to fix the price of oil at tho In addition to hisoil holdings in Kansas and Hamon waH a large Htockholder In a score or more of of llu Wichita Hanger Fort Worth and a director In u numbor of other railroad nnd financial cor Among tho hunks of which Hamon was u director arc Hoveral of tho larger Tfxim amoncf them being tho Security National bank of Xor Due to of Xfumon to great often attributed by his Jlo always The rapid was to Cuuliiiiutl till Ancient Water Well at Wortham Standing in Oil Tho lias completed Its Morgan I well at a depth ot 400 feet with 11 fcot of sand and is gettinga production of 25 harrels a ThlH well IB In tho proven part of the South Sjieclal to tbt ohl oily drilled for water years ago In tho streets of Wortham nnd rulnoil by oil and is now standing 723 feet In drillers of Ihrj Freestone County OH and Drilling which Is reopening llio reported The oil Is stand ing1 to tlio top of This well como in In 1H2 as a spraying Becuuno tho oil was worth little In thono days and there was no market for It was shut Kokhurdt of general manager oC tho looul company drilling for oil cast of arranged to have the city It was necessary for tho drill urn to dig down around tho firat two lengths of casing and in doing BO thoy had to work in oil aftor getting 33 fcot be low Tho well has not boen but experienced oil men predict that it will bo a good WititotiitUH uutl drilling a shallow well on the Tucker farm near tho old Curry six nillon north of aro now down Tho deep tout ottho Froeatouo com pany has been delayed to procure an but is now drilling to Special to the rail road commission lmn filed milt In the TravlH county district court against the WichitaHanger Oil company for penalties at the rate of per duy for alleged violations of the com missions rules which require notice of intention to drill and for notifica tion before making pipe line connec Ihe completion of two add il tuna 1 In the Texhonia field llu uVvclopMUlit of now In the progrcHH of the ott industry m Wichita district during Ihn past The production lor tho enliiv area reinnins practically same Just a total run of har rels of nil dully being credited to rtoctioii based on pipn lim Itilbo Texhonia fitId tho 2 of the Oil OH tho Uni son has liciii brought ar Initial prod net ton estimated at ctihlo Thin gnawer Is about from Iho wus brought in sovenil wu an Initial production of the largest gunner Unit has bimn com pleted in that well has been mudded ovr pendingtho an choring of tho casing ami plpo Hue Tho secmitl gussor of the whllo an larKf OH Hovnrnl others in the IH as it pxleiiils HIM proven teas area of lh field ovJr i lrtt mile lo thft being1 distanceHouih of Ihe Camp wfdl IH iho 7 thi Udell Oil company iml is Knowing an initial production of cubic 75 MUIIuu IYet Throe have boon completed in the field within tho hint HOVOII milking total of with a pio flucllon at cubic other wells aro now drilling In thu KUS with thn prohahlo com pletion of Hcvurtil additional within Iho next 1art of tnls ftiH is btIiiK piiHd lo this city part usfd an fuel by refineries It IH conceded Hint the flold now lias all BUS that can bu and according to reports tho railroad commteHlon will Khorlly for bid thn bringing In of additional Hit inoKL development in of the I Miingri of Kenning Tho well struck a font Hand nnverut days ago and is now Hhowing a production of JOO Tho IP northwest oC any wells that have been at tlio usual foot depth of iho and within a few hundred foot throe that wuro dry at the Tho completion is Iho first to oil la commercial cimiiHlties at that depth and it IH bollovod Unit it has opened up small shallow pool In ii suction which Is dry at the usual producing Jry Test Tn block UG tho Universal Is re ported ns makingIfiO barrels of oil with considerable water from a foot Thin IB Iho well which was shot at foot Hovcrnl H IIKO in order to pull Iho ons the test being supposedly dry at Following tho shot began to It IB now llcved that tho Band nrounil font was passed up In tho drilling of Iho and that additional tents will trove up pay Hand at that In tho northwetjc corner of bloul 21 tho 1 test of Wnllaco et la ralciJ ns a 100 barrel from a foot This in alno e now pay sand and thu completion of throo wells in tho woolc at varying duplhii has increased interest In the Thoro a posHlbiUty that tlio Wallace ana the Universal teat aro from tho tho different depths being accounted for by tho dip In tho Hand antl a differ ence in tho surface Six northwest of tho city Ihe teat on tho Hopo uinch passed through a two foot at 1KO uccordrlnpf to In from the Thto test will HB it in In thlB Hcctlon wliere tlio Donehooltayxor lost ban a Hliowlng oil fit a Hhal low Prairie Pipe Line Will Be Extended Special lo Iho Prnt rlo 1ipo company IIUH Hiarled a campaign of that in and coutemphites a good IncroaBo in tho canipanyn fa for trunHportliiK crude companys lino into Special to rinniHs that a mersor of nil the Krotlurs In Okhtlioina and otilslaui have In circulation hero e hend nf those would niither couflVin nor deny these Ho a statement would be made in i Ki1 tho Mcnihcr of Is where he JIMS charge of tho operations of the various coui These iiudude Ihu Irish Oil Ihc Kentucky Kins nit the Keller Kentucky oil corporation and the 1 Keller TlrothPrs Intonsts out the iire ex over thirty produc ing with several wells drill Two wells now drilling nt Uurkhunutl and cno in Humphries Petroleum Gos Well in Limestone County May Usher in Big Oil Pool BETJ FIELD OKLAHOMA SH HUM GA This or hoUl to tho about arris in in xbnuL twml frt UH ill iistrn tod In si ssinr tho a hold 00 uniinitl IbiH IH uiuluratood tho will 1A1SV IlKlili COSIIAXYS WK x vi1 wiTir AT N No in uvrr Tl bo Ifrn thorn IMMU jniiMiunlcMy rniiUnlixeil and or to oiicratu in thu oil indus try on a huicfc lo the Daisy HiHe rotrolcnni on the Htroman In section in the riewltl is for a Hiring of tools which has in ibe This well prodiirlng wllh i fine flow uiiti the casing tronhhset in ami the hol loRaa lishiiu IH h carried nn another ulrinsv Ilf ui11 IN it a UKLS FLOWS 225 Ol IX 18 AIIXr DAY lltSH TO AM A HI SOAHINN lo other IH hcljiK written in the hiMlory of I one Star The and the Ihnn IVlruletiiu coiapany of Thplace is near the of Limestone The Hinu 01 Sue for As Value of Crude Taken From Lease and Hansom hav ngittnHt NHl Cioortro Thrift and Uu iron Mouiulon jil company for They fin Uohlnson a ol I lie roilt hid In u tlmt J1 JUiil hs wifi lived on i of liiml allittliMl to him tis Later sold land 1o it until inailo a dfott which was by ItlH Thoy al that ooo worth o oil I pas luivo bfon lYom itu1 land and they ask Hint Hits oil nnd paid for Hint receive r hn np poinlod to take rhartfp of tho A U iic hod in the Information is n Hhnwhiff thai Uohinsun hiK dicdid a in the Hnd to llan for lUtiiiK as his The completion of well II m this cnnipletes the operations it tins Daisy people fur the presen hi regards to tho dritllMH on the All six wells un thn twentyacre tract aro irotlucv nnd tho nverase daily prmlucttoii IH about 700 The tract iH en led on the east half of the north ontt umirlor of thu Houlh1lnsl tf of setMou Tractlcally oach of the is diuIiit from two The first wind luis a thickness of nbout fifty then thcviIs u break of nlioni fcurlpon and tlK1 secorij sand follows with a ihkkniM of thirty t forty Should openitnrs drUlhuv about the tract siiccMHfnly ncufoliaie tli deopor the DalKy T llo oplc will drill other wells on Ihe IMJO tu lhenry Juinintion of the ground in there is the peHHibillty hiil it will ininf ad visaltlc in drill twin thuti lo il l en i lit to Kt product ion from nmrc thnn siiitds in The hilly production for week ending VI In tne llewilL field wan an uf barrels the dully p rod net Ion of ions Oil I IbTe were nlniiysix wells and wells in Kurlltr In wetU the I luinphrevs well found a pnv sanil at well made heads with tin drill H thf Tin lu litamliiiK from lo rhanksjvivlnn mornliif the well Mew out hi and in IS bait filled a pit with barrels of The oil en In a sixInch HI ream nnd shot Un feel Into the The well was a wells have been brought in In cnnnly many tinten hui tills IH oil well of mi nt Is Another Well Pay On the heelM of this remarkable din vhUh declared by of Iho hundreds of nil men who hnvti tttnniMft fforn nil parts of Iho country ever since news of was bruited the Atlantic CHI Producing coin puny brought In Alnwwoiili I inukini Ac COUSK cording to compiled here IT oonlly oil fiild pro duced barrels of oil it first diKCovurcd In The 1mvoJl seven inlloH of the IIUH prndnced HIT np U this Tho and will bo JncrcAHea to about a Various lines in Knnaae will also be Increased or added to and ths movement of crude height tilltl Wiicox Sand in Oklaohma Proves More Effective ilcopor tlrlllliitf In the lluidlUll coun tho Wilt ox sand is pro vi riff very The firnL test lo bo drllleil to this rtanii was Mosccar Wwll hi tho nutthwest cornniof tho Houthenst of tlio iiorthoiiflt nf Roctloii which WUH drilled In on June hna un Initial protluctlou nf Thin muid was found nt Thu second well to bo producing from thltt sand was the Tlgtr Oil 8 on tho Rontlo farm In the northwest of southwest of nurlheiiHt oC section Thla well wua drilled In first with an In Itlnl production of 400 barrels and U now making nbout lf0 bnrrola Tho ii3 well for Carr on tho Grayaon hniated Intho north oast corner of of northcnst of aoctlon la making 150 barrela weak Tho InttHt showing In thin country lu iho Curtor Oil company well In tho of section This is an old well drilled deeper aud a now in thn top of tho Wllcox an nil with a good showing of top oC Hand wart found ut ami tho hnlo lina filled up 400 foot wllh U wilt bo drilled deeper in the UllCOX Tho third donp tost to bn pluggod In Ihe dlKtrict in thu vicinity of tho Iuliishl OsHebtMik well which hi lor burrula or bctUi1 tho Minot Mitiol tctit in Tho Carter Oil company stilt Ihn Iiulividnal tors in the with an daily production of Second onies the Oil and KcfininK whhh has passed nnd now lias an daily prod nd on of The itUinihu prod net ion from an a daily on Ill of barrelM to tinprcs ent daily prndndion of S IVxna nnd quarier of ijuclioii Thin well nbandonod at fuel Cosbrook Petroleum Gets Tho OoHbroolc 1etroleum company bus brought in UH north of town two near iho lUffglnbothum The wult caiiifi Jn afternoon and Is good for Eastern Corporation Buys Out Company Here Expand Further The llpfinorH and 1 dslrlbulorH com n f concern which bus recently been III tho hnn itiiifluiHcd the luildingH of u imniher of nil in the Hlales Ono of tho company purchiiHes in that of llio Mid Texas Oil and llcliiihig This properly wan bought through Mcintyro of iho firm oC Jjoyln fc Tho proiiorty trauHTerred to iho Itiflnern and Dlstrllnitorfl com pany by tin MidTexan consists prin cipally of ahoiit acres of KiiHen and two K10 producing liohort roprcKujitallvn of tho HeflntrleH and Dlstrlbulont com pany Iti now in Fort lloporU aro thut thin company will continue llu policy of producing olt In thn Tojcaw Alelntyro IH the opinion that the next few montliH will h many cnmhinoH nnd moiRers In oil industry ot North Jlo Ilovcn there a vast amount of orn capital ruudy to voinu Into and Inlic mlvanlafio of uatlon by property Iho be the in Prepare Walton Well for Test of Oil Sand DC FU MA 1C U oil lo the Wiillon been cloned down in order Ihuf an miy bo ylvin thoruuKh UnleaH the teal the well to bo tfooil for at JOMSJ present drilling ThiH well IH owned Jointly by tho Oklahoma Htar com pany and tho liulcur Oil Drilling com and IH located lu ftactUm towiiMhlp range It will rtyulie ton or niuiut ti prcpnro thu hold for iho 100 barrels ul wlJJ feet of Thin well is ciKht imrlh of It Is HUD el froni llu lairett I well which U makinn n Hnmlli r of nan tlall Tlicse wells ii iv SOt ftii tti have cnennnlered no oil Th J f rolenm Iri nil the UufidH n of north of Another well nearby is reported lo be nearin iompletlon ami Un oul eonie is be i n iv all lied wit U bteatliless Tineveihunnl ami rush here similar to those dnrinj the it JJnrkhnrnelt luwler farm Us or at Kliloratlo when Tniptihootirs wtJl tracliuK in very ncl I are paid for In the mur and llio pnrehnHtT mone many limes by Thu day a tract of acres im from the well was Mold fur and was conslderiMl cheap at Hie OH nitn and speculators and are ponrlmv Into and J on every train and from all parts of Tho haiiibrr fomnierre inuUini every cflm t I o lake ea t e of tho Influx nnd Ihn Chamber of etun at Is doinn WrilciTells of a staff correspon dent of th describes n IM at Mixln n follnwiim dis patch appeared In lie lritlay Issne of Alany mi Corsicana Well To Be Pushed as a Deep Test Special to the yn of MII extenwUe oil opuratoi la will begin wot n immediately un wtll ucnt Itlcd thin two it ia un nouiiucd well drilhd to foet Jiu expcci i lo nmko ti deep out of It and will havo mathliicry in pluoc In w few ila Ktlwln York luiH completed a guuil well un I hi unit a halt mibN east of fur Mil an Oktahomti ho well finlshetl ul a depth of feet and Is tho first well on this It WUH drilled ttuoilfih 10 feet of pay Hdifl and is ruimtdcrid Rood for from to imiTtlH a day on tho Tbw 1luteau inmpituy of Koit th him let a cuutract fur drilling near the old fair t a from ho ItichardMon Oil cumpaiiy of Fort Worth is easing In lu 1 on its fair ground Thla companv itrlng to put down at least so on Un IioldltigK lu that ho Joffcraon Oil rompuny U pre ptirliiK tu In Hutu or four wells iu iho 1owtflL T   

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