St. Louis Paper - A Feasible Plan for Gaging Individual Wells (with Discussion)

To know the rate of declinc of oil wells is very important, yet ordinarily we are prevented from getting this rate because the oil from several wells is put into one or a few tanks as soon as the wells have been connected to the power. The object of doing this is economy of tanks, pipes, labor, and accounting. But we are making a great sacrifice for this small economy. The advantages of the individual records are that we would know better: 1. When the well has ceased to be profitable. 2. When a well has gotten into bad condition. 3. The real record of the yield per acre and the rate of decline of the wells. The lease total is too mixed as to age of the wells for existing records to have much significance. To obtain such individual well records and more accurate logs are the great desiderata of satisfactory management of oil properties. 4. Which wells show the slowest decline—information which is valuable in locating new wells or purchasing adjoining leases. The truth of this statement is evident, when we reflect upon the large number of purchases of producing property. Intelligent appraisal is of the utmost advantage and it is impossible without individual well-pro-