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Newspaper
Anaconda Standard
Location
Anaconda, Montana, United States of America
Date
Jun 26, 1915
Page
13
Western oil notes quote Jack Landon citing a Collier’s piece on the Dutch operation at Panuco. An eight inch hole reportedly yields 188000 barrels daily at five cents per barrel, implying vast potential profits that scale to tens of millions yearly after accounting for delays.
The Alberta Petro- Team Consolidated reports steady pumping from the A. P. Con. well at about 100 barrels daily with plans to store oil in new tanks. Western and North Western Pacific wells show deepening progress with heavy seepage and possible capping formations. A demonstration tour toward Dingman field saw oil refined to a value of $17 per barrel, boosting belief in Alberta as a premier oil region. further wells in Calgary Petroleum and Grand Trunk Pacific progress toward commercial quantities, signaling wider Montana and Alberta prospects.
Vain, manager of the Banking Corporation of Montana, reports from this district to the Montana Banker that after mine resumption money is plentiful, laboring workers pay bills, deposits rise, and real estate activity picks up with an overall optimistic mood.
President John Graham announced that while no strike has been made at the Prudential Oil well, substantial seepage of heavy crude oil is entering the well at 2,280 feet. He noted a nearby Alberta Petroleum Consolidated success and forecast a breakthrough soon.
A general meeting of stock watchers of the Acme Oil Company formed a new consolidation. The merger authorizes a capitalization of 437 to be paid in by the companies. Full details and percentages of shares will be published when available.
Montana Banker reports five newly incorporated oil and gas firms in Montana with modest capitalization. Conrad Oil and Gas Company, 250000. Alberta King Oil Company, 250000. Independent Oil Company of Geraldine, 40000. National Oil Company of Dillon, 100000. Montoming Oil Company of Sweetgrass. June 24 1915. Segur, Lewisohn Building, Butte. Strong sand showings and crude oil being drilled.
The article notes more than three thousand oil by products and over three hundred lubricating grades from crude oil. It lists items such as benzine and gasoline, waxes and oils, and mentions oil products powering cups, roads, furniture finishing, machinery, ships, planes, and homes. It cites profits and dividends from 23 oil firms with $32 million capital, including California’s 5,625 oil wells and $860 million in dividends up to 1912.
Montana gas strike near Foremost suggests large impact for zinc districts around Butte. With 18 million feet daily, zinc producers like Butte and Superior, Lexington and Elmerly could gain from domestic refining, reducing Oklahoma dependence and boosting state payrolls and circulation. Local companies seek support and funding to prove Montana's oil and gas potential.
Between seventy and eighty werle driftingt the piece notes a rapid rise in oil prospecting. It asks readers to consider the implications of the three year period during which no company drifted for oil transformed into widespread exploration and activity.
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