Oil Lands in Indian Territory and Territory of Oklahoma; Hearings Before the Secretary of the Interior on Leasinng of Oil Lands and Natural-Gas Wells. May 8, 24, 25, and 29, and June 7 and 19, 1906
Oil Lands in Indian Territory and Territory of Oklahoma; Hearings Before the Secretary of the Interior on Leasinng of Oil Lands and Natural-Gas Wells. May 8, 24, 25, and 29, and June 7 and 19, 1906
This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...have become rather settled. The Secretary. Became inadequate prices have lieen paid for these properties Is no reason, why this should continue. The thing to do is to make an estimate and give the property owner a fair share of the result, and my point is that the rentals for wells heretofore have not been on ...
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1906 edition. Excerpt: ...have become rather settled. The Secretary. Became inadequate prices have lieen paid for these properties Is no reason, why this should continue. The thing to do is to make an estimate and give the property owner a fair share of the result, and my point is that the rentals for wells heretofore have not been on a fair basis, compared with the profits that have come from the operation of the wells. The Indian gas owner should get a fair price while the well exists. Mr. Snyder. The gas lasts longer than the oil. The gas well lasts longer in years and keeps up the full amount every year. The Secretary. That branch of the subject is really a matter of speculation. Mr. Snyder. 1 have related my experience. Those wells in Kansas are 12 years old and are still paying the same amount per annum. The Secretary. When the well gives out, payment on it stops. Mr. Snyder. So it is with the oil. The oil well will rarely last over 12 or 15 years, while the gas well will last W or 25 years. The Secretary. How many tons of pipe of that size do you estimate to the mile? Mr. Snyder. I could not tell that offhand. I have never laid any 24-inch pipe. Twenty-four-inch pipe costs proportionately a good deal more, perhaps two and a half times as much as the 16-inch would cost. It is harder to make. The Secretary. Well, Mr. Snyder, I am much obliged to you for this interview and for this paper, and I will consider it carefully and see what we can do. 1 feel very strongly about this charge of more than $150 a year for a well, and when you come to bring it below 1 cent for a thousand feet it seems to me that the proposition is a very reasonable one. Mr. Snyder. I think, perhaps, I ought to have touched on the question, which it seems 1 have omitted in that paper, of measuring...
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