SUNDAY. MAY 6. 1962
MEDFORD MAIL TRIBUNE, MEDFORD. OREGON
IrSiergency, Texas could pro-'taling more 18 billion
duce more thaniix times as I barrel. But exploration and
Texas Oil Production Limited by Commission
By CARLTON WILSON
United Prtu International
Austin, Texas - OIPD - The
first great oil gusher In Tex
as created a sensation that has
repercussions today tor ev
eryone who uses an automo
bile or heats his home with oil
or gas.
Although oil flowed from
Texas wells since 1859, the
greatest single impetus to the
state industry came at Spin
dletop Jan. 10, 1901.
mere, near Beaumont on
the Gulf Coast, the first salt
dome discovery made by Capt.
Antnony F. Lucas. It aunch.
ed a campaign of drilling that
increased slate oil produc
tlon from 838.039 barrels in
1900 to 4,393,658 in 190? and
892 million In 1981..
In 1902 the Spindletop well
alone produced 17,421,000
barrels, or 94 per cent of the
state's production. Prices
dropped to three cents a bar
rel, an all-time low.
The search for oil and gas
continued until Its peak year
of 1958,. when some 21,500
wells were drilled by a bil
lion dollar industry. High
costs, disappointing results
and relatively low oil prices
, have led to a decline in drill
ing since then.
Nevertheless, about a third
of the wells drilled in the
United States during 1960
were In Texas. There have
been some 470,000 holes
punched down into Texas soil
seeking oil in the last 94
years. The deepest of these
went down 25,340 feet in 1958
- and yielded nothing.
The deepest Texas produc
er is a gas well at 16,680
feet - more than three miles
into the ground.
Since Spindletop's fabulous
find, only about one out of
60 wells has discovered
enough oil or gas to be profit
able. The average cost of an
oil well is about $47,600, the
Texas Mid-Continent Oil &
Gas association rep.O.s.
Gas Wells, which are gen
erally deeper, cost on the av
erage $112,000 plus. The cost
may run as high as $1 million
for a gas well drilled in the
Gulf of Mexico, at about $88
a foot compared to a per-foot
cost of around $11.40 for an
inland oil well.
Natural gas is produced in
Texas by about 18,500 gas
wells and about 121,000 wells,
for there is some gas in every
oil field. About six trillion cu
bic feet of gas was marked
from Texas wells in 1960 and
reserves in the state total
about 119.5 trillion cubic feet,
or about 48 per cent of the
U. S. reserves.
"Wildcat" vqUs drilled in
untried territory or umOplor
ed depth discover new fields
and producing formations.
About 3.166 of these were
drilled O Texas in 1960, but
more than 90 per cent were
dry holes.
Few of the wells that do
produce oil are financial suc
cesses. Another 12,415 Texas wells
were drilled in 1960 to de
velop oil and gas fields which
already had been discovered.
In all, some 66 million feet
of hole (15.581 wells) were
drilled in Texas that year -enough
to reach through the
earth one and a half times.
The results of all this ex
ploration is a present total
of more than 200.000 oil wells
in Texas that produced $2.8
billion worth of crude oil last
0ear.
xviucn oi inu, cruae on is
processed into automobile and
aviation gasoline at the 59 re
fineries in Texas. A large por
tion depending on the qual
ity of the crude, goes for ker
osene, other fuel oils and lu
bricants. The amount of Texas oil
production is limited by the
three-member state railroad
commission to conserve the
resource, keep supply and de
mand in balance and stabilize
the market - whih now finds
oil selling for $3 a barrel.
POduction was held to
eight days during eight
months of 1961, nine days for
three months, and one month
of 10-day production.
Total 1961 production of
101 days was an all time
low and compared to a record
366 days during 1048, a leap
year. .
Olf commissi controls did
not exist, Texas well operated
at maximum efficient rates
could produce an estimated
4.7 million barrels daily, sorr'
ni:
much oil as last year. I development have uncovered
The supply of Texas oil ' oil shurces during the last
will last about 20 years atjW years at a rate of more
the present rate of produc- than one billion barrels a
2.4 million barrels a day more tion, based on industry esti- year, faster than oil Is now
than present production. In an I mates of known reserves to-1 being produced.
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?wnt$wrPMedford Phone SP 3-5348
HOWE RHONE. CITY
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