Rail Commission Blamed in Texas Oil Scandal
Odessa report covers Glen H Ivy of the Texas Research League accusing Kilgore District Office of the Texas Railroad Commission of slipshod operations that contributed to the East Texas slant-hole scandal. Ivy proposes splitting the Midland district into three with offices in Midland Fort Stockton and Lubbock to boost efficiency and reduce costs. The plan envisions district engineers directing field inspectors of about 225000 wells and 14000 new wells yearly, with data processing handling bookkeeping at Austin.
MENTIONED IN THIS ARTICLE
Ivy
Odessa
Midland
Texas Railroad Commission
Fort Stockton
Lubbock
Commission
Austin
Bell named U S embassy CIO in Mexico City
The United States embassy in Mexico City appointed Brian Bell as chief information officer. He succeeds William H Lander who departed the post last month.
MENTIONED IN THIS ARTICLE
Mexico City
UPI
United States
Brian Bell
William H Lander
Production Increases Across Oil Regions Report
The American Petroleum Institute reports weekly crude oil and lease condensate output rose by 29 250 barrels to 7 541 410 for the week ending Friday and shows a four week average of 7 484 760 barrels. Texas and Louisiana show mixed moves with Texas up 15 000 barrels and coast Louisiana up 15 000 barrels while New Mexico SE falls 3 000 barrels.
MENTIONED IN THIS ARTICLE
New York
American Petroleum Institute
Oklahoma
Texas
East Texas
Inc
North Louisiana
Coast
Louisiana
Total
Arkansas
New Mexico
Dec
Dallas Firm Buys Gas Acreage In San Juan Basin
International Oil & Gas Corp of Denver sold its 12,947 acres in San Juan County New Mexico to Southwest Production Co of Dallas for 2.5 million dollars. International retains a 4 percent overriding royalty and plans to use 1 million to cut long term debt while adding 1.5 million to working capital for future property acquisitions. The sale covers 23 gross 16.5 net wells with room for about 24.5 additional net wells under current spacing rules.
MENTIONED IN THIS ARTICLE
Dallas
International Oil & Gas Corp
Denver
San Juan Basin
Southwest Production Co
Dallas International
International
San Juan County
New Mexico
W. B. Macey
Macey
Texas Eastern Bonds Offered 50 Million First Mortgage Issue
Texas Eastern Transmission Corp offers 50 million dollars of first mortgage pipeline bonds at 4 percent, due 1963. Underwriting led by Dillon Read & Co. prices at 99 to yield about 4.81 percent. Proceeds fund debt retirement and the company's construction program. A sinking fund from 1966 will retire about 95 percent of bonds before maturity. The firm’s core business is natural gas transmission with a 2662 million cubic feet per day delivery capacity from the Mexican border to New York.
MENTIONED IN THIS ARTICLE
Houston
Texas Eastern Tranmission Corp
Dillon, Read & Co., Inc
New York
Texas Eastern
Texas
Pan American Wins Gas Leasing Royalty Case In Texas
Texas Supreme Court upholds Pan American Petroleum Corp in a dispute with Southland Royalty over gas royalties from a Winkler County lease. Court rules gas not covered as other minerals, despite agreements for one eighth royalty. Also affirms lower rulings on proration disputes in Victoria County and Wood County fields involving Shell Oil and Aluminum Company of America.
MENTIONED IN THIS ARTICLE
Austin
Texas Iu
Winkler
Pan American Petroleum Corp
Southland Royalty Co
Third Court of Civil Appeals
Victoria County
Wood County
Southland Royalty
Pan American
Supreme Court
Winkler County
Shell Oil Co
Aluminum Corp. of America
Normanna
Port Acres
Foreign investment in Australia rises to share of overseas total
Canberra reports North American investment in Australia reached 146.5 million dollars last year, accounting for 49 percent of all overseas investment. Britain's investment stood at 123.5 million dollars, or 41 percent, as it dipped in the same period.
MENTIONED IN THIS ARTICLE
Canberra
Australia
Britain
Officials Tackle Oil Forum Report
Frankfurt reports on the 6th World Petroleum Congress wrap up with 6000 scientists submitting nine tons of material. Delegates from 62 nations praise the session, plan a global pollution study, and set a 7th congress topic on air and water issues to be discussed.
MENTIONED IN THIS ARTICLE
Frankfurt
Germany
World Petroleum Congress
Gerhard Brendel
Brendel
Deepest Well Ever Dug in Utah Planned by Pan American
Denver AP reports plans for Utahs deepest well on the Sinbad structure in Grand County. Pan American Petroleum Corp is listed as operator. The 15,500 foot Devonian test targets the Sinbad unit near Mesa County Colorado, marking the states deepest penetration.
MENTIONED IN THIS ARTICLE
Denver
Utah
Petrolum Information
Pan American Petroleum Corp
Sinbad
Grand County
Mesa County
Colo
Also Mentioned on This Page
Amarillo Daily News
Rail Commission
Enna
Sweden
Texas Eastern Bonds
Southland
The
Railroad Commission
Chrysler
America
tName
Chrysler Division
Hrysler Motors Corporation
Amarillo
Imperial
Collins Chrysler-Plymouth
Pierce
Oil Forum
By Max B
Skelton
Leland C. Burroughs
U. S
Moscow
Southland Center
SU UU
Balfour
Sunset Center
USDA
D.A
Pastrami
Chas. Sumner, Mgr
Ds of Dist. Lion
Vetesk
Duniven
Tsk
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