Papers - Production - Domestic - Oil and Gas Development in the Texas Panhandle for the year 1940

Oil.—In the Texas Panhandle, 502 oil wells were drilled during the year 1940, with a total daily initial production of 139,187 bb1.—that is, 137 more oil wells drilled than in the previous year, with an increase in total daily initial production of 8219 bbl. The total daily potential of the field on Dec. 31, 1940, as determined by the Texas Railroad Commission, was 1,375,502 bbl., an increase of 30,825 bbl. over the previous year. On Dec. 31,1940, a daily allowable of 85,050 bbl., which was a decrease of 35 per cent over 1939, was assigned to the field to be produced from 4788 wells. The total amount of oil produced for the year was 26,788,590 bbl., making a cumulative total of 378,960,728 bbl. during the past 19 years. No new oil-producing acreage was discovered. Gas.—During the year, 92 gas wells were drilled, having a combined open flow of 2,402,900.000 CU. ft.; that is, 6 more than the number of wells drilled in 1939, with an increase in the open flow of 204,900,000 cu. ft. per day. The gas production for the year was 670,435,112,000 CU. ft., and the total gas removed from thc ground during