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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Jun 10, 1956
Page
11
Texas Railroad Commission figures show wildcatter activity rising in unproved fields. The number of attempts this year exceeds the same period in 1955, with South Plains Field completions listed and Texas as a whole seeing more exploration despite lower domestic crude demand.
J. H. Withers Crown Central’s Fisher County No. 1 well shows a discovery opposite the Mississippian on tests. First test reached gas at the top in 45 minutes with 300 feet oil and 223 feet mud cut. second test produced 120 feet oil-cut mud. final test produced 10 feet gas-cut mud. Site location three and a half miles south of the Claytonville Reef, near Bernecker townsite. Texas oil activity and regional production figures are included, with industry trends and new plants noted.
Fort Worth announces Continental Oil Co establishes a new marketing district with headquarters in Lubbock and R A Gaskins as district manager. The unit covers 28 West Texas counties and 11 in Eastern New Mexico, reflecting Conoco’s expanding marketing drive in the region.
A survey shows underground natural gas storage increased 12.4 percent year over year with 1,796,464.943 mcf capacity across projects under way or planned and an estimated push beyond 2 trillion cubic feet. The expansion aids producers pipelines and utilities by easing summer shortages and lowering fuel costs.
Peru has doubled the charge for unloading petroleum cargoes to fund port repair work, according to Lima reports.
The Railroad Commission reports 372 oil wells and 36 gas wells brought in this week, lifting year totals to 7 375 oil wells and 765 gas wells. Seven of 575 new oil wells and three of 83 dry holes are wildcat or risky drills. daily oil allowance rises to 3 236 815 barrels.
Houston June 9 oil companies boost to engineering and technical careers with scholarships fellowships and grants. McCollum compares U S output to Russia warning of a productivity gap while stressing quality over quantity in training. Shell Mobil and Standard Oil fund teacher fellowships to raise student interest in science and tech education.
Washington June 9 UP The oil industry mobilizes Congress to defeat or modify a bill requiring 90 day advance notice to the attorney general and FTC on mergers over 10 million. Weeks says it blocks desirable mergers while Senate action awaits. Standard Oil notes the rule could bar buying a service station. other associations warn disruption of independent producers.
Drilling began on a wildcat venture off the Louisiana Gulf Coast in 112 feet of water near Grand Isle, 70 miles south of New Orleans. The CATC Group led by Continental Oil Co. includes Atlantic Refining, Tidewater Oil, Cities Service, leasing about 50 000 acres. A 1400 ton platform built by Brown & Root was towed to the site with 260 foot pilings designed to resist hurricanes.
Plans for the Fifth World Petroleum Congress to be held May 30 to June 6, 1959 at New York City’s Coliseum include 200 technical reports on geology drilling refining and testing. Commemorating the 100th anniversary of Drake’s Titusville discovery, the congress gathers leading petroleum scientists with a Permanent Council of 12 nations. General secretary will be C Eugene Davis, a former Shell Oil vice president.
Oil production in the free world rose to a record 14,982,900 barrels daily, with the United States also setting a new peak at 7,278,000 barrels. The Middle East led gains, Iran contributing over half of Persian Gulf increases, and Venezuela posted a record 2,392,000 barrels daily.
R A G, an Austrian firm backed by American, British and Dutch interests, reported Puchkirchen No 1 near Salzburg shows potential of 250 barrels a day of light crude. Drilled to 8500 feet after hitting basement rock, the 6 foot thick productive zone lies about seven to eight thousand feet deep. R A G is 60 percent Socony Mobil and 50 percent Royal Dutch Shell.
A massive offshore platform was lifted onto pilings by a crane on a construction barge. The 110 by 146 foot structure sits 55 feet above water, with air conditioned quarters for 36 crew, storage, a helicopter deck, and a 30 ton crane at each end. It carries derricks, draw works and supplies, and cost about 1.2 million dollars to build. the design allows drilling up to 12 wells, at roughly 40 dollars per foot plus other expenses.
Stanolind Oil & Gas Co. leases 70,000 acres in Terrell County from Bassett Mineral Trust of San Antonio for 10 years with a $2 per acre bonus and no drilling obligation. The land lies in three survey blocks near Sanderson and follows a 1,109,000 acre tract acquired from Austria.
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