Crude Petroleum - Economic Significance of the Oil Developments of West Texas (with Discussion)

Economics has been defined as the useful application of wealth or material resources. The search of alchemists in the Middle Ages for s formula by which base metals might be transmuted into gold was no more intensive than has been the search by all branches of the oil industry for methods whereby the rnatcrial resources of West Texas in the nature of sulfur-bearing oil might be usefully applied. The purpose of this paper is to present in brief space developments that are conceded to possess economic significance. History The first discovery of oil in commercial quantities in the Permian Basin of West Texas was the Westbrook field in Mitchell County in 1920. Three years later the discovery well in the Big Lake field was cornpleted as a small pumper (70 bbl.) at a depth of 3028 ft. In 1925, discovery of the Powell or World pool in Crockett County stimulated activities in the Permian Basin, further establishing the importance of the Permian limestones as sources of production. The years 1925 and 1926 were marked by a period of extensive leasing and drilling activities. At the close of 1926 more than 7,000,000 acres had been leased and discovery wells completed in the Hurdle, Hendricksand Yates fields, definitely establishing the importance of the Permian Basin as a source of production from free-flowing wells. Review of Fields The producing fields in the Permian Basin are grouped on three distinct lines of folding. These may be separately identified as the Big Lake-Powell fold; the Yates, Hurdle, and Church-McElroy area and the Winkler County development. Production is derived from a porous limestone stratigraphically uniform, encountered at depths varying from 900 to 3100 ft. Lenticular sand bodies above the lime in Howard County have resulted in the