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Show f MEXICO II LEADER I li OUTPUT OF OIL Obstacles in United States Greater Than in Those of Southern Neighbor. I Difficulties of those developing oil lands in the United States in maintaining a yearly production of 350,000,000 barrels of crude petroleum, involving efforts of 25,000 producers and the output of 200,000 wells, stand out in marked contrast with the record tif producers in Mexico, .where twenty wells have an estimated capacity (of 600,000 barrels daily, or 60 per cent of total dailyoutput in the United States. About 90 per cent of known oil lands in Mexico are owned by fifty to 100 American Amer-ican corporations and individuals. All that is necessary in numerous cases to obtain an increased supply of oil is to lessen pressure under which the well is kept. Potential capacity is much greater than the amount of oil being marketed from them. In the case of Mexican Petroleum company's big Casiano well, ' which is flowing 'at the rate of a little more than 20,000 barrels daily, production could be increased four or five times by removing pressure. The frequency with which great oil wells are obtained in Mexico constantly adds to the importance of those fields to the United States. Several wells have been completed recently, averaging more than 30,000 barrels of oil daily. They have i been brought in by small companies as well as large ones. Among the lesser known companies operating op-erating there which have developed a large production is the Port Labos Petroleum Petro-leum companv, owned by tobacco interests inter-ests associated with James B. Duke. This companv recently completed a well with an estimated capacity of 50,000 barrels a day. Port Lahos company is shipping more than 300,000 barrels a month, and all its facilities are not in operation. First shipments ship-ments were made in August, and it is believed be-lieved they can be increased in the same ratio as tank steamer capacity. A Standard Oil well which previously was escimated at 25,000 barrels daily is now regarded good for 50.000 barrels a day. Pierce Oil corporation is now considered con-sidered capable of producing between 40,-000 40,-000 and 50.000 barrels daily, compared with an initial estimate of 30,000 barrels. bar-rels. Boston News Bureau. |