Show california OIL DIVIDENDS herald los angeles cal statistics show that over has been paid by california oil companies in dividends up to the present time and those who are familiar with this great california industry fully realize that the crude oil business in this state is only in its infancy the total production for 1910 was better than a 25 per cent increase over 1909 and yet the market is absorbing this increased production without any serious break in the price the recent single sale of barrels by the independent producers at a net price of 40 cents clears the market of a large part of the surplus and it is freely predicted that crude oil will bring 50 cents in the open market within the next four months recent private advices advises from bakersfield say that the coalinga alinga Co Al midland idland oil company has completed drilling contract and successfully installed the 6 inch pipe at 1020 feet the formation is a tough white shale which shows on the surface out cropping during the work the log of the well showed every formation that outcrops in that particular gulch all surface out droppings crop pings indicate that the oil sand will be entered at about 2000 feet the strike of an artesian flow of water by the carnegie oilfields Oil fields ltd which company drilled ia a well tor for oil feet deep on section 9 in the north midway is said to be a godsend to the operators of that territory many of whom have been greatly hampered through an inadequate water supply the water has been tested both analytically and practically and found to be perfect for boiler use more than is being expended by the company to harness the water supply which shows a production of barrels daily the well will be eased cased a large air compressor and barrel capacity cement reservoir installed and a main pipe line laid into the north midway district to supply water users the philippine gas and oil company operating in the recently reorganized is now known as the adrien oil company W 0 maxwell of mckittrick is superintendent erin of the fahe new company the belridge balridge Bel ridge oil company is studding spud ding in two wells on mckittrick front they are no I 1 on section 33 2821 28 21 and no 2 on section 32 frank swank superintendent of the john D jr company a new concern opening a lease in section 32 32 24 west side reports having everything ready for studding spud ding in well no 1 the canadian crude oil company is the name of a new concern to secure a 25 acre lease in section 31 32 24 drilling will begin at once heaving sand is retarding drilling of the phoenix interstate company on section 3 5 1124 11 24 drillers drillars Dr illers are having trouble in landing the 10 inch casing in the blue clay which was struck at feet the adeline consolidated company has six strings of tools going on the old gen eseo lease in section 3 1124 11 24 |