Chapter 12 - Page 2

throughout the various fields. What was more significant was the amount of proven or semiproven stuff.

"It took work and money to get together that group of leases," Brick Stoner declared, after he had checked them off. "That's one of the best layouts in Texas, and they're shaped up to put over a big deal if they want to."

"They lack production," said Gray.

"Sure! But they'll have it before long. Lookit the wells they're putting down and that's going down around 'em."

The former speaker chewed his cigar thoughtfully for a while, then: "I don't believe they contemplate a big deal. They're not that sort. Henry Nelson is selfish and suspicious, and I'm told that Bell wouldn't trust anybody. I'm informed also that every dollar they have made has gone back into new leases and wells and that they intend to hold everything for themselves. It is rumored, quietly, that they are overextended."

"I wouldn't care how thin I was stretched if I had their gamble," McWade asserted. "All they have to do is to sit tight. The law of average will pull them out. What do you intend to do?"

"To begin with, I intend to stretch them even thinner--so thin they'll break, if that is possible."

"You can't load them up with more property."

"Certainly not, but I can make them drill more wells."

"Offsets, eh?" Stoner studied the map a bit doubtfully. "You can't make 'em offset dry holes, and if they strike oil in their wells the other fellers will have to do the offsetting."

"True. I can, of course, prevent them from extending their renewals. I can cost them a pretty penny just by forcing them to a rigid adherence to the terms of their leases and agreements and--"

"What do you mean, 'offsets'?" Mallow inquired. "How you going to break a man by bringing in wells alongside of his property? That'll make him rich."

"Can you beat that?" Stoner inquired. "Mallow's been selling oil stock and experting wells for us with the Marvelous Magnetic Finder and he don't know an offset from a headache post."

"Certainly, I know--"

"Why, Professor! Is it possible we have been deceived in you? An offset is the thing that sets off to one side of the crown block and it's a light blue, the same as a formation. It's the shape of a syncline, only bigger."

"Don't get funny. You drill an offset well to keep a man from sucking all the oil out from under your land."

"Right!" said Gray. "Wells, as you know, are drilled as close to the side lines as the law allows. When oil is found, the adjoining landowner can compel his lessee to put down a well to offset every one that threatens to draw oil from beneath his property."