Papers - Domestic Production - Appalachian Petroleum and Natural Gas Fields during 1929

The outstanding event of the year 1929 in the Appalachian area was the intensive drilling activity in the Bradford and Richburg pools of northwestern Pennsylvania and southwestern New York State, particularly the former, in connection with the continued extension of the five-spot system of water-flooding. More new development work was undertaken and completed than during any previous year since reclamation methods were first applied. This was due in part to an excellent price for oil and in part to discovery of the fact that more intensive methods (five-spotting) yielded greater profit. While several oil wells of comparatively large initial production were completed, no new oil pools of significance were discovered in the Appalachian area during the year. A number of small gas pools were opened in areas already surrounded by producing wells and at least three others in areas located some distance from any producing pools. Petroleum Development According to statistics of the U. S. Bureau of Mines, 33,7,57,000 bbl. of petroleum were produced in the Appalachian field during 1929 as compared to 31,060,000 bbl. in 1928.' Of the total 1929 production, 23,391,618 bbl. consisted of Pennsylvania grade oil as compared to 21,096,710 bbl. in 1928. The 1929 Pennsylvania grade production represents an increase of 37.4 per cent. over that of 1924. This increase can be attributed largely to the rapid development of water-flooding in the Bradford and Richburg pools. The Bradford field of northwestern Pennsylvania and adjaccnt portions of New York State experienced the busiest year since the boom days of the early eighties. Wells completed during the year totaled 2679.2 In spite of the high prices asked for acreagc, which in some of the choicest territory has been as high as $6000 an acre, a considerable number of properties changed ownership during the year. There is at present a pronounced tendency to consolidate the great number of small individually operated properties into larger units.