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Newspaper
Amarillo Globe
Location
Amarillo, Texas, United States of America
Date
Dec 24, 1925
Page
3
Analysts debate the oil industry in Oklahoma as sensational waves of speculation mislead outsiders. The steady, factual picture shows a complex, mature market with distinct regional dynamics and financial implications.
Oil companies and suppliers are locating in the Panhandle with more expected in coming months. Enormous sums have been invested since the field opened in 1919, and value of properties is rising. Recent activity includes Phillips Petroleum’s $800,000 absorption plant and plans for a $2,000,000 gasoline plant to produce 20,000 gallons daily.
Skelly Oil Co of Tulsa closes a deal with Col Whitenburg for 136 acres south of Gibson well for 26500 cash and 400000 in oil. Drilling to start soon. Marland Oil Co opens offices in Amarillo building with N O Miller in charge. They run three wells in this field and plan offsets and a wildcat in section 101 Burkburnett ranch. Mull er is head geologist and L C Smith field superintendent. Local firms rise as posted prices increase. Rievele tires 113 West Seventh.
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