TARANAKI OIL OUTPUT

Poverty Bay Herald, Volume LIX, Issue 17781, 17 May 1932, Page 10

TARANAKI OIL OUTPUT

STEADY FLOW FROM WELLS MOTUROA COMPANY’S SUCCESS AVoek by week an output of about 140 or 150 barrels of nil is modestly reported in the brief oftioial bulletin of the Moturoa Oil Company, says the Taranaki Daily News. ’The Moturoa No. 2 well lias already produced over 5000 barrels of oil, and the cash value of the oil at the well is Its 8d a barrel. The oil is not pumped, but is collected as it Hows, is refined in a plant almost on the spot into motor spirit, kerosene, for engine purposes, and residual oil for fuel. To date the well has given 5000 barrels of oil, or in galions, 175,000, of which 4000 barrels, or I-to,ooo gallons, has been sold and consumed. The difference between the quantity produced and marketed is explained bv losses due to blow-outs, and oil used as fuel. It is claimed for the oil produced at tills well that it is ot the high quality of Pennsylvania oil on nil analyses made of the raw material, and that tluPennsylvania oil is generally regarded as superior to any other raised in (lie United States. Air. (’. N. Taylor, managing director of the Moturoa Company, states that the company is now paying its way and is selling its product in the Dominion. Water has been effectively locked out of the well by cement. Although the No. 2 well, which is close to the beach, is at present in steady production, the company's No. 1 well, which is to the west of it and well inland from the wharves, is also a proved producer at the rate of about 10 barrels a day, compared with the daily average of 22 barrels at No. 2 well.

The company proposes putting down a No. 3 well, also on the waterfront, but nearer to the town than the No. 2 well, and rather higher up the beach. The newest type of drilling equipment is to be applied to this additional boring. The cost of the new well is not expected to exceed AifiOOO, but further capital is being obtained for Lliat purpose.