Every one who studies conditions in the petroleum industry realizes that if the production required by the modern world is to be maintained the time is rapidly approaching when new production must be sought farther afield and where drill locations are less promising. This means that the cost of wild-catting will be increased, for the cost must be borne by the new production thus discovered. In 1919, 60 percent of the wildcats drilled in Oklahoma produced either oil or gas. If only 40 percent are productive this year it is obvious that the cost will be increased 50 percent. The...
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