Salt Lake Tribune | 1919-08-21 | Page 16 | Company Holds Mexican Lands

CM HOLDS KU IDS Enormous Flow of Tampico Wells Due to Ocean Pressure, Says Expert. The Montana-Wyoming Oil company recently re-cently completed arrange :n en ts whereby control of 702 acres of :ani In tiie heart of the Tampico, Mexico, oil field Is acquired, ac-quired, according w A. LS. Carstensen, nianafcin director. Of the 70- acres, X0 have been leased to the -Capitol Petroleum company, a 510, Out), Duo corporation. L'n-di.-r Lhe terinri of tiie Iea.se, the company agrees to begin drilling of a 2000-foot well at once, with the p tipulation that the Mob tana -Wyoming uil company shall have one-eighth interest in all oil produced. pro-duced. It is said. The newly acquired holdings ot" the last-named last-named company have great possibilities, according to Mr. Carstensen. Great wells lie adjacent to tiie company's land. In this field wells producing from 4u,000 to 50,o00 barrels daily have been developed, It is said. In regard to the possibilities of the Tampico field, Captain John Barneson, president of the General petroleum company, com-pany, which lias large holdings in the above-named field, makes the following statement, according to the Petroleum Reporter of Tart, Cal.: "There is one thing which I desire to Bay about all the oil wells near Tampico. A I though the production is enormous, when they do go out, they "will go out very quickly, becauso I am convinced that It is salt water pressure from the ocean, and not gas, which causes these enormous flows of oil. "Weils in the California fields -will possess pos-sess a longer life than those wonderful gushers in Mexico; but the production of Mexico will continue for a great number of years, for there are today 700.000 acres of "potential oil Jand practically untouched." un-touched." The wells on tho property of the Montana-Wyoming Oil company in the Midway Mid-way field, Kern county, California, are producing regularly, according to Mr. Carstensen. Recently a new 106-foot combination derrick was completed, and this Is now being spudded in preparatory, to starting operations on well No. 3. I