EASTERN OIL FIELDS
Eastern Oil Fields. ALTHOUGH the production of the older oil fields of the United States has recently been declining at an average rate of about 5 per cent a year, the output of these fields in...
...This was less than 1 per cent below the output of these fields in 1916...
...or 26 per cent more than the value of the output from these fields in 1916...
...The value of this oil at the wells was $115,887,864, which was $23,-844,249...
...Of the wells completed, 6,042, or 66 per cent, were oil wells, credited with an average output of 16 barrels each the first 24 hours after completion, 1,246 were gas wells, and 1,828, an average of one in every five completed, were failures...
...In all 9,116 wells were drilled for oil in the fields east of the Mississippi in 1917, a loss of 1,091 wells, or 10 per cent, compared with 1910...
...ALTHOUGH the production of the older oil fields of the United States has recently been declining at an average rate of about 5 per cent a year, the output of these fields in 1917 shows that they are still capable of responding to the stimulus of high prices for their product...
...Preliminary statistics just compiled under the direction of J. D. Northrop by the United States Geological Survey, Department of tha Interior, in co-operation with the State geologists of New York and Pennsylvania and with the Director of the Illinois Geological Survey, show that not less than 44,347,-780 barrels of petroleum was marketed from the Appalachian, Lima-Indiana and Illinois oil fields in 1917...
Vol. 10 • August 1918 • No. 8
