West Virginia University - Monticola Yearbook (Morgantown, WV)

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Hauling :he Old Way Hauling the New Way Inside View of Machinery in Compressing Station Outside View of q Compressing Station

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,« - m 1 m y r 1 M „ T ' Jfy i iJ ii ' fcjrf 1 tf H % . i v . KT J ■ M. ... ? L T, Im ■1 1 w J Ss 1 - There are at the present time in West Virginia some 19,000 oil wells with an annual production of some three and one-half million barrels of oil, valued at over five million dollars, and over 11,000 producing gas wells with a total annual production of some one hundred and fifty billion cubic feet, valued at some forty-five million dollars. To operate such an industry requires many com- pressor stations, gasoline plants, oil refineries, hundreds of miles of high pres- sure pipe lines, as well as thousands of skilled workmen. Such an Industry creates taxable wealth to help provide State and County revenues. It helps make possible better schools, churches and highways. The property taxes paid by this Industry reaches 46 of the 55 counties and in some, exceeds 50 percent of the total taxes levied. In addition to property taxes the Industry pays about $2,000,000 gross sales tax. It also returns to the land owner in rentals and royalties an excess of $5,000,000 annually. West Virginia and West Virginians have played an important role in the Oil and Natural Gas Industry. The State has served as the laboratory or training ground for many of the men prominent in the development of this industry m other States. It was I. C. White, a West Virginian and State Geologist, who ,gUCCessfuUy demonstrated the application of the anticlinal theory, the most im- portant single contribution to the location of oil and gas fields. The State, through its Geological Survey located at West Virginia Univer- sity, has published and made available complete sets of reports and maps on the State that have been of inestimable value to the industry. The department of geology and engineering school keep abreast with new technique and de- velopment so as to be of service to the industry in helping solve their problems and in the preparation of students with the best possible training to carry on. The Oil and Gas Industry will be an important one in West Virginia for many years. It will, however, experience many changes in character. The oil remain- ing in the sands, will be recovered by new methods including repressuring with gas, air and water flooding. This requires new technique and procedures. Deeper and deeper wells will be drilled. This presents new problems. The Industry has met and Solved its problems before and will continue to do so in the future.

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Elizabeth Moore Hall tu jcre the woiucii siciiii — mnl the men would like to . . .