| Show present status of oil 01 1 industry in 1 n byorni byomin ng BY HOWARD W BAKER it is almost impossible for the human mind d to conceive the magnitude to which the oil industry has grown in the past few years tl we look back but a short period ago to when the he industry was unknown in wyoming except in a few restricted localities for the year 1917 the output of the state was 9 barrels six times as much as the output for the year 1912 and times as much as the output for 1908 no other state in the union has had this phenomenal growth consequently no other state has I 1 ome come before the eyes of the public as has My wyoming oming and when we consider that we have ave only made a beginning and that the industry is still in its infancy what may we not ot expect of the future the growth of one ne of its companies we regard as characteristic of what the state may and no doubt will ill do in the reasonably near future I 1 refer efer to tile the midwest refining company started only a few years back as much a wildcat wild cat company as scores that have followed it the stock was put on the market at I 1 t 10 cents a share and went begging at that now the company has grown until last ast year it was assessed at and the he stock has sold at times the original al price in other words the man who I 1 invested 10 in the beginning besides getting his dividends could have sold out his stock at one time for so much for comparing the huge industry of the state with only one of its successful producers at present we recognize eleven producing fields in the state three of these are not yet in the market production class and the barrels above mentioned were taken from eight fields only leaving structures domes and anticlines anti clines in the state which must be developed during the year in a morning paper we read that sixty rigs will be erected in one new field this is a field not yet included in the pro aa ra cl hundreds of rigs are either erected or being erected for thi s summers work manager Mana grer casper oil exchange change Mx this ar acle C le is reproduced from the casper wyo ing record class and is only one of the many fields to be worked to tile the limit millions will vill be spent tins this year going after oil and millions willbe will be derived from oil it is impossible to state what the expansion will be however this we know it will be far greater than last year which was a record breaker also we must realize that over acres of choice land have been withdrawn from development by the government and it is almost certain that this land will be reopened to the public some of it is the choicest of the entire state the government is rapidly seeing the necessity for encouraging inythe the development of the industry to the fullest extent and is beginning to operate cooperate co with the man who is willing to risk his dollars and his time in developing the resources of the state it if this is accomplished it means better conditions not only for the prospector but for the government as well which has urgent need at this time for millions of barrels of oil annually extensive preparatory work is being done at tile the present time new refineries are being erected new pipe lines are being built and hundreds of rigs are either erected or being erected for the drilling to be done this spring and summer up to this time there has been a company formed for nearly every day of the year the total capitalization or at the rate of daily the companies a already formed increase these figures into the hundreds of millions and one is bewildered when he tries to comprehend them but all point to one end development just a word regarding the present low prices on oil stocks many are tile the inquiries we receive as to when they will improve and many are the answers we hear but no one knows and tile the best answer is only supposition of course one can give a fair estimate based on past history for that is the only criterion tile the world war situation with its attendant conditions affects the market to a great degree as much of the capital which would otherwise be invested is loaned to the government for the financing of the great task at hand this is a patriotic duty and should not be lost sight of however it is also a patriotic duty to finance and promote projects which mean as much to the government as does the oil industry this is being done and will continue to be done with the sanction of the government in the spring when new structures are proven new companies achieve success old companies get or increase production and proven structures are extended like big muddy was last week by the bringing in of a well a mile or so farther out than any in the field it is inevitable that prices will increase to a very marked degree this will be the case with the stocks having merit NY INV ag 77 1 t wax 01 I 1 k aa ft sacka sac Kf a i S asni g ILL IV w J 14 IN N irn I 1 J ea 4 S W 1 ayt ay tv aca t T ts 5 R P 1 I abs n r 0 millions will be spent this year going after oil and millions will be derived from oil there are a great many which will never be worth any more than they are now how they do not deserve to be oh the market at all and they will undoubtedly be weeded out each month puts the industry on more of a scientific basis it is getting to be safer for the public all the time and when the companies that are purely promotion propositions are thrown out or kept out in the beginning the industry will get more hearty operation cooperation operation cooperation co from t the he public these things must and will adjust themselves the investor inquires more into the proposition now than he did a few months ago it is up to every good citizen in the state to help put this wonderful industry on the right basis where all have equal rights and where the man who puts his hard earned money into the proposition may be assured of protection and an honest effort eff ort to make his money produce for him every one can help not only himself but the state and most of all the government in its time of need by encouraging in every way possible the work at hand |
