barrels a day. Number 3 well was visited, which is down twenty-nine hundred feet and is doing one hundred and fifty barrels a day. Eleven derricks have been started. Oil sands here have about fourteen per cent porosity. The Union Oil Company pays eighty-five cents per barrel on the ground for oil and takes it into its own pipe line.
SOME CALIFORNIA OIL STATISTICS
The cost of a well and equipment here is figured at fifteen thousand dollars, and at present prices for oil it may net forty-five thousand dollars the first year. Figures have been made that show possibilities of four hundred wells drilled on this property in two years to cost six million dollars, but to earn three times this sum per annum. This would be more wells than were ever drilled on any one property in the State.
The Ojai Ranch, several miles farther south, cost about seven hundred and fifty thousand dollars. Oil was discovered in California in 1859, and Thomas A. Scott, of the Pennsylvania Railroad, was interested in this property about 1865, but he was looking for kerosene, and the heavy oil found here was not then of value. Scott was interested in the first projected railroad from
