Oil And Gas Developments In Pennsylvania And New York In 1924

THE year 1924 saw little change in the production of oil and gas it either Pennsylvania or New York. In the early months of the year the price of Pennsylvania crude oil, $4.00 to $4.50 a barrel, was sufficiently high to cause operators to lay plans for rather extensive drilling opera-tions. But when, in August, the price dropped to $2.85 a barrel, there was no inducement for new work and drilling was curtailed. In spite of the curtailment, however, the combined production of the two states for the year showed a slight increase over 1923, the production being 8;859,000 bbl. in 1923, and 8,901,000 bbl.1 in 1924. The increased production was due entirely to. the continued development of flooding operations in the Bradford field, all other oilfields showing a decline for the year. TABLE 1. Production of Crude Oil in Pennsylvania and New York for the Last Ten Years a Production, Barrels Production, Barrels Year Year Pennsylvania I New York Pennsylvania I New York 1915 7,838,000 888,000 1920- 7,438,000 906,000 1916 7,593,000 874,000 1921 7,418,000 988,000 1917 7,733,000 880,000 1922 7,425,000 1;000,000 1918 7,408,000 809,000 1923 7,609,000 1,250,000 1919 8,137,000 851,000 1924 7,535,0006 1;366,0006 a U. S. Geological Survey figures. b Estimated. Much of the drilling in the southwestern part of Pennsylvania was done in search of gas. Natural gas in Pennsylvania is fast being recognized at its true worth and the increased prices allowed 'the gas companies for their product induced quite a bit of new work. The relative importance of natural gas compared with manufactured gas is shown in Table 2.2