Indiana Petroleum Conditions In 1924

THE petroleum industry in Indiana made no extraordinary progress during the year 1924. The surplus stock of crude, brought about by the production of 732,407,000 bbl. in the United States in 1923, as against a production of 557,531,000 bbl. in 1922, had its effect on prices though there were slight advances. These advances were more than offset by the continued high prices of labor and materials. TRENTON OIL DEVELOPMENT The principal development of the year occurred in the Hotmire pool of the Ridgeville district in northeastern Indiana. This pool lies partly in the southern part of Jay County and partly in the northern part of Randolph County. The oil is obtained from the upper horizon of the Trenton. During the past year, about 30 wells were drilled, 21 of which were productive. An attempt to extend the Hotmire pool to the northeast resulted in the discovery of a gas-producing area near the center of Pike township in Jay County; 10 wells have been drilled 4 of which produced oil. The Harvey Orr No. 1 produced 900,000 cu. ft. of gas per day.