Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globeMcLaurin, John J. (John James)
History
Sketches in Crude-oil: Some accidents and incidents of the petroleum development in all parts of the globe
McLaurin, John J. (John James)
Petroleum -- History; Petroleum industry and trade -- North America -- History
At Clarendon and Stoneham hundreds of snug wells yielded three-thousand
barrels a day from a regular sand that did not exhaust readily.
Southward the Garfield district held on fairly and a narrow-gauge
railroad was built to Farnsworth. The Wardwell pool, at Glade, four
miles east of Warren, fizzed after the manner of Cherry Grove, rich in
buried hopes and dissipated greenbacks. P. M. Smith and Peter Grace
drilled the first well—a sixty-barreler—close to the ferry in July of
1873. Dry-holes and small wells alternated with provoking uncertainty
until J. A. Gartland’s twelve-hundred-barrel gusher on the Clark farm,
in May of 1885, inaugurated a panic in the market that sent crude down
to fifty cents. The same day the Union Oil-Company finished a
four-hundred-barrel spouter and May ended with fifty-six wells producing
and a score of dusters. June and July continued the refrain, values
see-sawing as reports of dry-holes or fifteen-hundred-barrel-strikes,
some of them worked as “mysteries,” bamboozled the trade. Wardwell’s
production ascended to twelve-thousand barrels and fell by the dizziest
jumps to as many hundred, the porous rock draining with the speed of a
lightning-calculator. Tiona developed a lasting deposit of superior oil.
Kane has a tempting streak, in which Thomas B. Simpson and other
Oil-City parties are interested. Gas has been found at Wilcox,
Johnsonburg and Ridgway, Elk county, taking a slick hand in the game.
Kinzua, four miles north-east of Wardwell, revealed no particular cause
why the spirit of mortal ought to be proud. Although Forest and Warren,
with a slice of Elk thrown in, were demoralizing factors in 1882-3-4,
their aggregate output would only be a light luncheon for the polar bear
in McKean county.
The Tidioute belt, varying in narrowness from a few rods to a half-mile,
was one of the most satisfactory ever discovered. When lessees fully
occupied the flats Captain A. J. Thompson drilled a two-hundred-barrel
well on the point, at the junction of Dingley and Dennis Runs. Quickly
the summit was scaled and amid drilling wells, pumping wells, oil-tanks
and engine-houses the town of Triumph was created. Triumph Hill turned
out as much money to the acre as any spot in Oildom. The sand was the
thickest—often ninety to one-hundred-and-ten feet—and the purest the
oil-region afforded. Some of the wells pumped twenty years. Salt-water
was too plentiful for comfort, but half-acre plots were grabbed at
one-half royalty and five-hundred dollars bonus. Wells jammed so closely
that a man could walk from Triumph to New London and Babylon on the
steam-boxes connecting them. Percy Shaw—he built the Shaw House—had a
“royal flush” on Dennis Run that netted two-hundred-thousand dollars.
From an investment of fifteen-thousand dollars E. E. and J. M. Clapp
cleared a half-million.
Public-domain text, read in full here on John Shaqi.
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