Production - Petroleum Production in 1932 Summary

With the close of 1932 and the third year of the depression, the activity of oil production presents, amidst the general wreckage and chaos of industrial society, a somewhat unique picture of rationalized economic effort. How long it will continue to present such a picture, however, is a subject for conflicting surmises. East Texas still dominates the contemporary horizon, but it has become, at least for the time being, a definitely known factor. With its 9500 wells it is approximately 90 per cent drilled up. So long as production control obtains, it is merely one important factor of the national oil reserve. Domestic Production The notable new discoveries in the United States were less numerous than for several years. Elsewhere in the world the record is much the same. The Conroe field in Montgomery County, Texas, lying in an intermediate zone that might be classified either as Gulf Coast or East Texas, represents perhaps the single example of a truly major discovery during the year. Elsewhere in Texas the new pool discoveries, about a dozen or so in number, were nearly all in the region known as Southwest Texas. Oklahoma contributed seven or eight new pools of the routine "run-of-mine" caliber, and the opening up of a few deeper oil pays also were of some significance. Continued expansion of the proved and semiproved reserves in Kansas added an important increment to the oil resources of that state. In California not a single new field was added to the roster, though deeper pay zones equivalent to or of greater importance than many new fields in other parts of the country were discovered or indicated. The new deep zone in the Belridge field is considered by some to underlie the prolific Temblor and may thus forecast the widespread distribution of a potentinl oil horizon underlying many San Joaquin Valley fields below the depths thus far exploited. Aside from the routine operations in connection with settled production, the Eastern fields were decidedly inactive. Further new develop-