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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Oct 07, 1956
Page
8
The Venezuelan government signals a dramatic shift by offering rights to extract crude from national reserves to foreign oil companies. Analysts say the move, disclosed by CLT Edwards and aired in October, could attract large investment as Texans eye new Middle East competition.
A crude oil find called Morrow near Ochiltree advances four miles southwest of Magnolia. The well topped the pay at about 0,000 feet, signaling a productive lower Morrow zone.
Basin Geophysical Society schedules a meeting at 8 p.m. in the Midland Woman's Club building. Members will discuss society plans and upcoming field sessions.
The weekly roundup lists field completions in South Plains and Brownfield, noting Brownfield’s oilman banquet and ceremony roles. It covers drill results, depths at No 1 Willie Federal and No 1 R State, with no commercial shows in Lea We venture and Braddock areas, and mentions a new recovery process from Core laboratories aiming to boost secondary yield.
Two rotary explorers announced in Roberts County near Miami and Lipsfield while a wildcat well is scheduled in the Hitchland-Douglas area. The Cosden Petroleum Company operates in southeast Perry County with a 9 500 foot bottom as William Keogh of Possetown Ireland is fined 56 dollars for dangerous tractor driving.
Reporters note continued oil and gas completions in west central Lea County as 1956 progresss, with activity described in local oil fields. The piece references county conditions, project pacing, and regional energy industry activity around mid October.
Eddy San Miguel and Quay counties in New Mexico were slated for shallow wildcat tests this week. Three clusters have been plugged in Lea D S Harroun to drill No 1 Mayes a 600 foot project 28 miles southwest of Carlsbad in Eddy County and No 1 R L Neff.
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