Papers - - Produciton - Domestic- Oil and Gas Development on the Texas Gulf Coast

Broadly speaking, the year 1934, one of the most active in the history of the Coast, has been both disappointing and revealing. Of the 18 new oil-producing areas, only two have shown the qualities of a first class oil field. Many of the new areas are discouraging for the horizons exploited, because of close association of gas and salt water, and the absence of any appreciable oil zone. In spite of amply fulfilling the expectations of drilling and geophysical development, the year has fallen far short of the results that normally should be expected from such a campaign. In 1934, the Cockfield zone has been disappointing because its exploration down the dip from the Conroe and Tom Ball fields revealed only such distillate fields as Splendora, Eureka, and the great gas-sand thickness at Katy. The zone proved good at Raccoon Bend. Newer Oligocene and Frio fields in Texas, with the exception of Hastings, were also disappointing, as Van Vleck arid Old Ocean attest. The discovery at Dickinson is not startling. The development of Hastings, Tom Ball, Dickinson and the deep zone at Raccoon Bend will be slow. A new strip of prospective territory of minor importance lying inland from the Conroe trend was opened by the Kittrell discovery. During the year 206 unproductive wildcats were drilled on the Texas Coast, compared with 207 during 1933 and 141 during 1932. During 1934, there were 835 oil and gas wells and 229 dry holes drilled in proved fields, in contrast with 1100 in 1933 and 512 in 1932. The past year's production was actually 60,868,260 bbl., or 2,020,764 bbl. less than in 1933. The present annual rate of Texas Gulf Coast production is about 61 million barrels per year. The daily Texas Coast production decreased 5537 bbl., or 3.2 per cent, during the year. The total daily production at the end of the year was 173,598 bbl. Eighteen wildcats opened up new oil and gas pools during 1934, so that there are now 78 active pools and 3753 producing oil wells. The production of the average well is 45 bbl. per day. The price of crude oil was almost uniform in 1934,