Papers - Miscellaneous - Deep Sand Development at Santa Fe Springs

During the present year the Santa Fe Springs field has proved to be the most important oil field under development in the United States. Its production will exceed that of any other field. Without it, production within the United States would have been almost in even balance with consumption. The field has forced to the fore and compelled, more than any other single factor, serious consideration of the need of conserving the gas resources of the State of California. It has also contributed much to the development of new drilling equipment and important features in petroleum engineering, and has required the development of a new cement for use in deep wells because of high temperatures. It is the only oil field in the country where wells 8000 ft. deep have become so common that they are no longer given special attention. The field covers a little less than 1400 acres of land. In it 196 producing deep-zone wells have already been drilled since August, 1928, and 224 wells are still drilling. More wells may be drilled. This indicates that probably more than 450 wells will be drilled in the present campaign. In hardly a year's time it has caused the outlay of nearly $50,000,000 for drilling, and within the year 1929 it will have returned practically an equal amount of revenue. In contrast to conditions during 1923, when this field was once before an important and disturbing factor, the California oil industry has not been forced to refinance to meet the situation presented by such a large production of oil. There has been practically no unit selling and no stock selling, nor any unnecessary development far beyond the limits of the field. Production is now about 275,000 bbl. per day and gives every promisc of remaining at this figure or increasing to nearly 300,000 bbl. Six months from now the field should still be capable of producing more than 200,000 bbl. per day. Obviously, the need for conserving gas that would be blown to the air, incident to the production of so large a volume of oil, represents a problem in conservation deserving of the most serious attention of the oil industry and of the State of California.