Texas Almanac, 1949-1950 Page: 273
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TEXAS MINERALS.
WILBARGER.-Oil and gas, sand and gravel WISE-
volcanic ash. stone. oi1
WILLACY.-Burnmng clay, oil and gas, salt. WOOD
WILLIAMSON.-Building stone, lime material. gas.
limestone, oil and gas. pulverulent limestone, oil YOAKU
YOUNG
and gas sand and gravel. and gas,
WILSON ---Burning clay, kaolin, lignite ail ani ZAPAT
gas. oil and g
WINKLER.-Caliche, evaporates, limestone. oil ZAVAL
and gas. sand and273
-Burning clay, coal, fossil wood, lime.
and gas
-Burning clay, Iron ore, lignite, oil and
MI -Caliche. evaporates, oil and gas.
--Building stone, coal, limestone, oil
sand and gravel.
A -Caliche, gravel, miscellaneous stone.
ais, sand, sand and gravel.
A- -Asphalt. coal, oil and gas, lignite.
gravel.Texas Oil Resources and Production
From the beginning of commercial oil pro-
duction in Texas until the end of 1948, a
total of *12,196,938,000 barrels were produced.
This was 33 per cent of the total production
of the entire United States for its somewhat
longer period of commercial production.
amounting to 37,186,947,000 barrels.
In 1948 Texas produced *898,313,027 barrels
which had a total value of $2,362.563,261 at
the average posted price of $2.63 during the
year. This was the highest production and
value in the history of the state's oil industry.
It was 44 per cent of the Umnited States pro-
duction and 27 per cent of the world's pro-
duction of approximately 3,360.000.000 barrels.
The Texas production for 1947 had been 819,-
427,000, valued at $1.577,028.000, according to
the tBureau of Mines. The estimated produc-
tion of Texas in 1949 was 734,434,730 barrels,
based on production of the first eight months
(January-August) as reported to the State
Comptroller of Public Accounts. (See table, p.
275.) The sharp decline from 1948 to 1949 was
caused by the decreased allowable by the Rail-
road Commission of Texas. Proration orders
cut production steadily from January through
July. Thereafter there was an indicated in-
crease for the remainder of the year. Value
of petroleum production, 1949, was indicated
at $1,894,841,603, on basis of an average price
of $2 5b a barrel maintained during the first
eightt months of the year.
Petroleum Reserves.
Total Texas oil reserves, including con-
densate, were 14,094,000,000 bbls. on Jan. 1,
1949. as estimated by the American Petroleum
Institute. This amounted to 56.8 per cent of
the total petroleum reserves in the United
States on that date, estimated at 24,834,000,000
bbls. (See table, p. 277.)
Wells Drilled.
Total number of oil and gas wells drilled in
Texas throughout the years to Jan. 1, 1949,
was 256,476, of which 172.165 produced oil and
9,890 produced gas. The remaining 74,421 were
dry holes. (See table, p. 277.) Wildcat wells
drilled in 1948 totaled 2,285, of which 323 pro-
'This is the figure of the Railroad Commission
of Texas. It varies slightly from some other esti-
mates, as of the U.S. Bureau of Mines, State
Comptroller o1 Public Accounts. Oil and Gas
Journal and other reliable reporting agencies. This
.light discrepancy shows in some of the tables in
his chapter because they were drawn from these
Iit ferent sources.
*Bureau or Mines figure for 1948 was not axaii-
,i,1 at :line ow publication of the Texas Almanac,
,4',- 1 5I.duced oil, 64 produced gas and 1.898 were dry
holes.
The ratio of dry holes to total wells drilled
in recent years has risen. As the greater
petroleum reservoirs have been discovered,
new prospecting has been forced into marginal
areas and deep-well drilling. There has been
a resulting increase in the cost of drilling.
Drilling costs vary greatly according to char-
acter of earth encountered and depth to which
hole is sunk. The average well of 4.308-foot
depth in Texas during 1948 was estimated to
cost in excess of $45,000. according to the Oil
and Gas Journal, Tulsa.
The world's deepest producing well at the
end of 1948 was in the Newhall-Potrero field,
California, 14.505 feet deep, according to the
magazine, Petroleum Engineering, Dallas.
Second deepest producer was in Natrona
County, Wyoming, at 14.309 feet. Third deep-
est producer was in Jefferson County, Louisi-
ana, at 14,159 feet. The deepest well ever
drilled to the end of 1948 was in Caddo
County, Oklahoma, with a depth of 17,832
feet. Second deepest was in Ventura County,
California, with depth of 17,696 feet.
Economic Value.
The value of oil to Texas has often arisen
as an economic and political question. Much
oil is produced in Texas which directly bene-
fits residents of other states. On the other
hand. there is great benefit to the people of
Texas through expenditures from outside
financial sources on account of Texas oil
In addition there are so many indirect bene-
fits from oil that the total is not calculable.
Data gathered during 1948 by the Mid-Conti-
nent Oil and Gas Association showed that
petroleum industry wages spent in Texas
amounted to $580,344.000 a year, based on
United States Department of Commerce
sources. Borrowed capital used by Texas oil
operators was estimated in 1947 at $353.757.-
000. The association also claimed, on basis of
data gathered by it, that 66 per cent of
Texas' business and property taxes in 1947
were paid by the oil and gas industries. The
Comptroller's report at the end of Aug. 31,
1948, showed receipts of $107,784,900 of gross
receipts and production taxes, most of which
came from oil. There was no way definitely
to determine contribution of oil to ad valorem,
franchise, occupation, and miscellaneous other
taxes and licenses into which the petroleum
industry enters. In other ways petroleum and
gas have been of immense benefit. For ex-
ample, most of the great accumulation in the
public school and University of Texas perma-
nent funds has been from this source.For over fifty years has never deviated from the
superb standard quality in Febrics and Workmanshp.
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Texas Almanac, 1949-1950, book, 1949; Dallas, Texas. (https://texashistory.unt.edu/ark:/67531/metapth117167/m1/275/: accessed April 26, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Texas State Historical Association.