Business & Finance: Old Wells

At a certain point, pumping oil out of old oil wells ceases to be profitable; the wells are in consequence usually abandoned. The State Geological Department of New York, however, claims to have perfected a new method of extracting the oil remaining in almost exhausted wells. The new system consists of drilling new wells and flooding the oil sands with water. After about a year of this treatment, it is said, the petroleum left in the pockets is forced toward the old well-shafts, and can be pumped out in considerable quantities. New York State...

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