Oldest continually operating oil well marks 150 years

PITTSBURGH Thu Aug 18, 2011 1:48pm EDT

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PITTSBURGH (Reuters) - The world's oldest continually producing oil well -- located in northwestern Pennsylvania -- turned 150 years old this week.

Drilled on August 16, 1861, McClintock Well No. 1 produced about 20 barrels a day by the following year, according to Dan Weaver, museum educator at the Drake Well Museum.

The 620-feet well near Rouseville, Pennsylvania was donated to the state by Quaker State in 1995.

These days, it operates every other month, producing seven to 10 barrels of oil a day, Weaver said.

An historical marker on a nearby road identifies the site, which includes an engine house and pumpjack.

"Thousands of people pass it each year and don't even know it's there," Weaver said.

The site is located about 14 miles from Titusville, where the world's first oil well -- the Drake Well -- was drilled in 1859.

(Reporting by Daniel Lovering; Editing by Ellen Wulfhorst and Jerry Norton)

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Comments (1)
Ralphooo wrote:
150 years * 365 days/yr * 10 barrels/day * (say) 75 inflation-adjusted dollars/barrel = a present value of the earnings of around $41 million. More concretely, that drip, drip, drip of rock oil should currently net something north of $250,000 per year.

Not a bad piece of history to own.

Aug 18, 2011 9:40pm EDT  --  Report as abuse
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