Casper Daily Tribune Newspaper, January 22, 1922, Page 5

ote vive os FRANK G. CURTIS President, New York Oil Co. 'HE NE‘, YORK OIL COMPANY maintains its head- quarters at Casper, Wyo. Its entire interests are in Wyo- ming with the exception of some in Alaska. It is en- gaged in the production of oil and gas. It owns and oper- Sates the gas pipeline to Casper from the gas fields west of , tt, the gas distributing system in Casper and the fuel fran- Schise there. [t is interested in 15,000 acres of proven oil in and gas lands in the state of Wyoming. ~~ zee) see ee Salt Creek Interests. S ic has fractional interests in over 4,00U- acres. in- Salt “Creek, the greatest light oil field in the world. There its “interests run from 3.78 per cent net to a 50 per cent work- ing interest. In Salt Creek it is associated to a large ex- tent with the Midwest interests, now meaning the Standard of Indiana and The Ohio Oil Company. It is estimated that if all of the wells in the Salt Creek field already drilled and producing were allowed an open flow..the New York Oil Company’s portion would be about 6,000 barrels a day. “It has an interest in over 100 wells in Salt Creek. This ‘number on.such an area is a very small draft upon it. The Salt Creek field has four proven productive sands, namely, the first Wall Creek, second Wall Creek, third Wall Creek and the Lacota of the Dakota group. Doubt- less the Embar sand, which lays farther below, will prove & great producer and there may be a producing sand or two between the Dakota group and the Embar. The ofl-bearing character of the second Wall Creek sand ’ was proven by the New York Oil Company in August, 1916, ‘when it was reported by the Department of Interior and the Wyoming Geological Department as the most impor- tant achievement of the year. Since then that sand in Salt Creek has been proven productive over an area of sixty square miles. It is believed by good judges that the Dakota group in < this field may prove second to none in productivity. The Depar* nt of Interior in its figures calls the com- bined fraction verests of the “- York Oil Company in Salt Creek over 800 acres. Othe.. ‘gure this combined acreage about 700 acres. It is difficult to figure the exact acreage because some items are working interests, some are net interests and others are net interests with a fixed price per barrel for the oil, but the value of its acreage in the Salt Creek field runs into many millions of dollars, when it is understood that one could hardly buy a first-class free acre in that field for less than $50,000 to $100,000. \. ta Lance Creek Interests, In the Lance Creek field New York Of] has a royalty of 614 per cent net on 820 patented acres, where one well flowed over 625 barrels a day for over a year. - This is the best part of Lance Creek. It also owns, 814. per cent net in Lance Creek royalty on 820 acres of adjacent leased land. The association in this field is with The Ohio Oil Company. Hamilton Dome. if On Hamilton Dome New York Off has interests with the ’ Empire State Oil Company and others. There its royalty is over 14 per cent on 640 acres on the crest of the dome and over 8 per cent on the remainder of the field. There are about 8,000 acres of proven land on this structure. Tron Creek. It holds all of the Iron Creek Dome, which is prove for both oil and gas. This field furnishes gas daily for Cas- per consumption. Commercial oil operations in it will be started this year, : THE CASPER DAILY TRIBUNE AND WYOMING WEEKLY REVIEW Oil Mountain. At Of] Mountain New York Oil has a large acreage, some of which is proven for shallow oil wells, and a gas production is expected. Poison Spider. It operates most of the Poison Spider Dome, which is one of the most clearly defined structures in Wyoming. Tiere gas is being furnished to Casper daily, and the oil pro- duction already proven will be commercially developed this year. South Casper Creek. At South Casper Creck New York Oil has about 3,000 acres, 640 of which are patented and being patented and the rest leased. Gas from this dome furnishes Casper daily and the oil production already proven will be commercially developed this year. Boone Dome. The New York Of] Company holds all of Boone Dome, 42 miles from Casper. This fteld is crossed by the Chicago & Northwestern Railway, and the Burlington Railway is but a fraction of a mile from it. It is a clearly defined structure and proven to be closed by the gas wells on it, where the pressure is 1,200 pounds to the square inch. There are 1,700 acres within the rim rock, and good judges think it may prove to be the second “best oil field in Wyo- ming. The company is drilling a test oil well to the first Wall Creek sand. Pine Mountain. At Pine Mountain New York Oil has a purchase contract for gas from 2,000 acres of gas lands. Iron Deposit. Through ownership in the Wyoming Centra! Association New York Oil owns over 99 per cent of a patented acreage of fron ore, where it has been estimated there are about nine billion tons of ore in sight. This is a high grade prod- uct and in a locality of natural gas for fuel, limestone and coal for making coke, comprising all of the necessities for manufacturing iron. This is near the Ferris Oil field and only 20 miles from the Union Pacific Railway. Soda Deposit. _ Through a like ownership in the Wyoming Ceutrai Asso- ciation the New York Oil Company owns over 99 per cent of a patented acreage containing about one million tons % ba of nearly pure soda from which baking soda is made. This is 15 miles from Rawlins, Wyo., and the Union Pacific Railway. Other Mineral Properties. This company has interests in several other prospective oil and gas properties that will be explored in the future. Field Camps and Equipment. This compary maintains a half dozen different field camps and owns trucks, drilling equipment, etc., to the value of $300,000. City Property. The company owns its general office building, 'residen- tial and engineering properties located in the heart of the city on the corner of First and Wolcott Streets, valued at about $160,000. Gas Systems. The field gas pipelines, which extend from Casper west- wardly to Poison Spider, South Casper Creek and Iron Creek, were constructed by New York Oil in 1920. The first 12 miles extending from Casper through. Emigrant Gap is 12 inch, the next 10 miles to Poison Spider and South Casper Creek 10 inch, and the spur to Iron Creek 8-inch pipe. The entire line is connected with Dresser couplings and all materials were new and first class when installed. The city gas system was likewise constructed in 1920. The lines in the city now comprise about 80 miles of pipe and extensions are being made continually. Gas Franchise. The gas franchise for Casper owned by the New York Of] Company is for twenty years and has been in force less than two years. Gas Sales. The field gas line was completed in September, 1920, and began delivering gas to the refineries in the. October following. The city gas system was partly completed and began delivering gas in the month of November, 1920. The gas sales now run about twenty-one to twenty-two million cubic feet per day. Of this amount the Midwest Refinfiing Company consumes about eighteen million cubic feet. The remainder is divided among 2,500 consumers in Casper. Gas Wells and Pressure. The gas wells furnishing Casper have been tested several times and their pressure found to be holding up strongly. ‘ . > e Lal ’ Ol MOUNTAIN DOME (RON CREEK DONE ~~? OL-bAS S i . PINE DOME Qe c hw CAS peer ee oor Ne ‘ aA oot Rey EE ge aig : Pee, E aa ' JAN, REER % = . . ' PROPERTIES AND GAS LINES OF NEW YORK OIL COMPANY, West of Casper, Wyoming INDUSTRIAL EDITION. MINAL E. YOUNG Secretary and Treasurer and General Manager New York Oil Co, The company has 18 gas wells distributed over 3,100 acres. The open flow of these wells is about one hundred fifty million cubic feet a day. One well drilled to the top of the sand is being held in reserve, to be drilled in when needed. A well near it produces thirty million cubic feet of gas a day drilled only three feet into the big paying sand. Capitalization and Profits. The New York Oil Company Is capitalized at $10,000,- 000, divided into shares of $25 each, ail’common. Thera is about $8,500,000 par of the capitalization issued and out- standing. Considerable money has been expended by the company in the acquisition of lands, equipment and development, but it has paid four cash dividends, three of 114 per cent each and one of 4 per cent. A 100 per cent stock dividend was paid July 1, 1920. Its division of capital assets has exceeded $1,600,000. Future Growth. For several years the company has had under consid- eration the building of a refinery at Casper, but this is not yet decided. Probabiy its oil from Poison Spider and South Casper Creek alone would maintain a refinery, and if Boone Dome develops as an oil field, it alone would likely furnish a good sized refinery. If it builds a refinery at Casper it intends to construct and operate an oil pipeline to Salt Creek to run its royalty and some other independent oils. The company’s fuel gas will be important to it if it goes into the refining business, While it is its policy to intensely develop the oil and gas properties that it now has, it will doubtless expand where opportunities are advantageous, Some Earmarks. In July, 1918, the New York Oil Company started with a lease on two quarter sections in the Salt Creek field, sub- ject to a 10 per cent net royalty, with a lawsuit on each quarter section and a $20,000 cash bonus, and an agree- ment to prosecute the litigation to completion, The pay- ment of the $20,000 was started with $2,000 of borrowed money. Since then those behind New York Oil and asso- ciate organizations have been the means of expending sev- eral million dollars in successful exploration and develop- ment in Wyoming and have been leading factors in bring- ing about the quieting of titles and the enactment of the General Leasing Law. This company was the pioneer in the discovery of gas near Casper and through furnishing fuel gas to the resi- dents and industries the benefits to this city are very marked. ee Ne tee * Officers and Directors. i: The officers and directors of the New York Oi! Com- pany are as follows: Frank G. Curtis, President. Alonzo G. Setter, Vice President. Heman D. Curtis, Second Vice President, Minal B. Young, Secretary and, Treasurer, and Whitney. G. Case, O. Nelson Rushworth and Robert P, Stewart, Directors. Frank G. Curtis was the organizer of the company and has led its management from the beginning. Minal E. Young, who is general manager, as well as sec- retary and treasurer, has been an officer of the company from its incorporation and has been’ its business manager since 1918, thas © ok