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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
May 15, 1966
Page
4
The Texas Mid-Continent Oil & Gas Association reports that an average Texas service station generates about 35,000 dollars yearly with 15,000 dollars in wages and 20,000 dollars for materials. Taxes on gasoline delivered by state and federal agencies totaled 419.746 million dollars in 1965.
American Petrofina Inc completes acquisition of Graridge Corp properties in Breckenridge and related undeveloped leases. Transaction valued above $21 million, pending IRS ruling. Graridge holdings span 163 fields across eight states with about 4 500 barrels daily oil and 12 million cubic feet gas. 60 000 net acres undeveloped leases in four states.
A Penn State scientist told an American Petroleum Institute session that extensive data on hydrocarbon properties is needed to improve refinery design. Coauthors were W G Braun and W H Thompson. About 1,800 oilsmen attended as studies on corrosion and waste-water monitoring were discussed.
Superior Oil Co announces first quarter earnings of 7,324,855 dollars or 1.76 dollars per share, up from 1964 levels. Howard B. Keck cites offshore Louisiana natural gas sales as main driver and notes no merger plans. Company mentions Brunei concession stake and ongoing Iran drilling.
Fragmentary OCR lists multiple drilling sites across Texas counties with references to company names such as Paul Schkade Drilling Co and Union Teraus Petroleum. Entries mention offsets, locations, psi readings, and abandoned or junked outposts, reflecting a record of operations and closures.
Women in the oil industry honored at the International Petroleum Exposition in Tulsa. Dr. Ivy Parker of Plantation Pipe Line Co. Atlanta named First Lady of Petroleum. Attendance estimated at 60,000 over two days despite cold weather.
Houston AP report notes Socony Mobil Oil Co stockholders will vote Tuesday on changing the corporate name to Mobil Oil Corp marking a decade of mergers and name alignments in the oil industry. The move reflects branding aims and limited public recognition of Socony as Mobil gains prominence.
Tulsa special reports the Oil and Gas Journal says US LP gas production will stay tight as petrochemical demand climbs to about 38 percent of total use. Domestic output must meet rising needs for several years, with imports unlikely before 1968 and potential supply loosening only through higher prices or expanded production. Washington acts on the supply issue and industry probes seek a fuel-finding consensus.
The Railroad Commission reported 27 wells drilled by Texas wildcatters last week with 10 oil and 17 gas discoveries. Year to date totals show 118 gas and 17 oil finds, compared with 424 gas and 326 oil in the same period a year earlier.
Sha ron Henrich of Snyder won the Ninth Annual Petroleum Institute for Educators fellowship to attend June 7 to 24 at the University of Houston. She teaches shorthand and typing at Snyder High School and is a 1960 valedictorian of Kermit High School.
Texas Independent Producers and Royalty Owners Association opens a three day session in Corpus Christi marking its first meeting in 20 months. Malcolm D. Abel cites improved factors such as higher crude production allowables and firmer prices amid ongoing concerns over imports and wellhead price controls.
An Interior Department official told the Independent Petroleum Association of America that developing oil shale could cost billions. Undersecretary John A. Carver Jr said a 500000 barrel daily operation might exceed 1 billion dollars, based on Canadian tar sands experience. He urged coordinated public private effort and noted U S shale reserves exceed 2 trillion barrels.
Esso Research describes a low cost hydrocarbon leak detector to find minute quantities of oil in refinery waste water. Tested for nearly two years in a Linden NJ refinery, the device detects gasoline and fuel oil, with heavier fuels visible, and alerts workers to leaks to enable rapid repair.
In the Permian Basin weekly tally Reagan County climbs to first with 23 active rigs, Lea County drops to second with 20, Pecos County holds at 18, while Andrews and many other counties report smaller counts. The two week total lists numerous counties with rig counts, led by Reagan and Pecos.
Washington AP An oil industry witness P N Gammelgard endorses federal grants for water pollution cleanup as part of pending legislation. He testifies before a Senate subcommittee praising a federal state partnership while opposing a rival bill that would grant the interior secretary broad control and override state collaboration.
The document lists locations and completions across multiple oil fields and counties, mentioning Andrews, Glasscock, Sterling, Winkler, Ward, Reeves, and other districts. It references producers, wells, and formations such as Spraberry and Wolfcamp, with cross‑references to companies like Humble Oil & Refining Co and Union 8.
U S crude oil and natural gas condensate output averaged 8 290 000 barrels daily for the week ended May 7 with gains in Texas 2 885 700 bpd Kansas 304 300 Louisiana 1 833 000 and Oklahoma 625 500 while New Mexico Arkansas and Illinois posted declines Crude and gas well completions fell sharply with Ohio leading the drop and Western Canada also dipping its completions
Zapata Offshore Co announced its new 86.25 million drilling rig the Heron was launched from the BR G LeTourneau Shipyards at Vicksburg Mississippi The T Aboton rig is twin to the Chapperal launched March 19 and drilling since April 7 in the Eugene Island area near Morgan City Louisiana
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