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Newspaper Page Text
Crude Price Is
Now in Lap of The President (CoatietMd from Pace 1) publication, ha* come ont firmly ad vocating a higher ceiling price for crude oil as a means of assuring our country "adequate supplies of oil, how ever long the war may last." An offi cer of the company two years ago called attention to the need for higher prices to stimulate exploration, says The Lamp. The company compared some oil producers with a store keeper who was selling his merchandise at a profit on its cost to him but not at high enough prices to replace his inventory. "The small producer is being forced to liquidate his business," it was said. The company added that the situa tion cannot be met by imports of oil. Among the agencies which have wired the president is the Oil Conservation Board of Montana, setting .forth the seriousness of the situation in Montana. R. P. Jackson, writing as an individual and not in his capacity as secretary of the hoard, sent an airgram to the presi dent, enlarging on the Montana situa tion. "As to Montana fields, crude pro duction is and has been for last 12 months, far below market demand," he wrote, "which has resulted in reduc tion storage stocks to danger point. Majority Montana producers probably can and will continue active under present price schedule as long as their presently productive wells last, as they have survived some bard times during last 10 years, and no one denies they are marketing all their production. De pletion rate of high gravity crude wells averages over one percent per month, however, and most producers are draw ing heavily on their irreplaceable underground storage capital without certain knowledge about how long it will last. I believe present producing schedules cannot be long maintained without drilling more wells than are being drilled this season and unless price ceilings are raised many pro ducers will not be able to drill. Situa tion seems to me to be of more con cern to government and other con sumers than it is to struggling pro ducers." The logic of the situation has been submerged in Washington by a bureau cratic campaign of attack on major companies because of current earnings. Overlooked is the fact that a price increase of 35 cents a barrel, divided among petroleum products would mean about 16 cents a month increase in the cost of driving for the average "A card holder. •• BUY WAR BONDS! Natural Gas Service EFFICIENT! ECONOMICAL! DEPENDABLE! Our company is furnishing this splendid fuel to 50 communities in four northwestern states through more than 1,000 miles of high-pres sure pipeline. Montana-Dakota Utilities Co. Great Falls, Montana DAILY PRODUCTION MONT.WYO.-COLO. WEEK ENDED AUG. 28 (Coatinasd from Pas* II Oregon Basin .— Bock River . Balt Creek . ... Werts ... Lost Soldier ... Badger Basin .— Byron .. Cole Creek ... Dallas Derby . Dutton Creek . Elk Basin, Light .. Elk Basin, Heavy . G. P. Dome —...... Grass Creek, Light ... Grass Creek, Heavy .. Hamilton Dome .* Hidden Dome - Hudson ... Iron Creek ... Labarge ..... Shoshone . Medicine Bow . Mahoney —. East Mahoney Ferris Maverick Springs . Mule Creek . Notches . Osage ... Pilot Butte . Poison Spider . Quealy Dome .. Bex Lake —. South Caspar . Spindletop -,. Teapot ... Warm Springs . Horse Creek ..— Frannie . Steamboat Butte - 14385 2530 .. 13340 .. 5170 5230 90. 5990 1030 450 40 425 . 6505 90 1595 2575 1950 40 250 10 1730 100 815 830 10 1530 310 390 500 1510 220 430 50 520 60 10 80 90 2570 900 TOTAL WYOMING . COLORADO— lies Dome ...-. Wilson Creek '.. Powder Wash . Hiawatha .. Florence . Ft. Collins and Wellington Moffat (Craig) Others .-.... Price .-. Bangely ... Tow Creek .. 96,826 1460 2380 155 420 130 280 310 55 1100 865 130 7285 TOTAL COLORADO ROCKY MOUNTAIN 127757 Shipbuilding is the biggest single item in Wisconsin's war contracts, with the first fleet of submarines to be launched on the Great Lakes coming from Manitowoc, Wis., ways. Equipped with new American ma chinery, India is producing as much gnu ammunition in a month as she pro duced in a year prior to the war. . WHERE THE FUEL GOES ONE STEEL MILL on the East Coast burned 105,227.000 gal lons of fuel oil daring the first three months of this year. ALBERTA OIL NEWS Probably the largest crude oil pro ducer ever completed in Turner Valley was heralded by Alberta oil men this week. f A flow of 75 barrels of crude hourly, before acidization, was confirmed by Imperial Oil Company officials at Cal gary at the Imperial Hudson's Bay 15 well in the long neglected extreme south end of the Valley structure. This flow, which works out at a rate of 1,800 barrels daily, was re markable because of the fact it was attained after drilling fluid had been cleared and before acid had been ap plied. Soldiers make an average of 8 moves by railroad between induction and em barkation for service overseas. Movement of an armored division and its vehicles by railroad requires 75 trains of from 28 to 45 cars each. l-l I Lubricants Coil in Socony-Vdcuum for Correct lubrication The correct lubrication of mechanical equipment contributes to the long life of machinery and minimum expense for repairs and replacements of worn parts; it saves labor, conserves power, helps to avoid shut downs, and is a vital factor in main taining maximum production at least pos sible cost. In thousands of plants of every description throughout industry, the expression "Correct Lubrication'' is synonymous with Socony-Vacuum Lubricants and specialized lubrication engineering service. SOCONY-VACUUM OIL CO., INC WHITE EAGLE DIVISION First Notional Bank Bldg. Groat Falls Devonian Test On Midway Runs Casing at 2700 I Con tin Had from Past II tended as a test of the east extent of the Sunburst sand production. A string of tools, a rope knife and 1500 feet of wire line are being fished out. Ilageman-Pond-Rispin No. 1 well in the north central field is drilling at * 1000 feet. Tarrant-MeCraeken No. 1, C 8E% NW% 12-29-1W is resuming. A drilling engine and string of tools were moved out this week and with standard rig it is expected that a quick completion will be registered. Cobb Waits For New Drill Pipe A, B. Cobb is preparing to deepen his wildcat well on Blacktail struc ture jn western Pondera county, and is now waiting for 3-ineh drill pipe. He will continue on down into the Madison lime, possibly to the Turner' Valley horizon. Showings of oil, recorded in rotary cores, in the Cut Bank sand and at the top of the Madison lime, failed to de velop commercial production. The 55 foot saturated section of Cut Bank sand, however, gives guidance to fur ther prospecting in the area, since the presence of the sand and the presence of oil in the sand is adequately proven. Wells drilled farther east have failed to find any excepting the "ribbon" sand in the Cut Bank horizon, this formation marking the lenticular edge of the ancient seacoast on which Cut Bank sandstone was laid down.