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Newspaper
Lubbock Avalanche Journal
Location
Lubbock, Texas, United States of America
Date
Sep 28, 1969
Page
5
The Sun reports on catalytic cracking developments led by Marshall, noting 1968 regular gasoline prices and a 20 percent rise offset by quality gains. The process uses hydrogen treating after initial catalytic cracking, with operations at 300 to 4000 psi and up to 850 Fahrenheit, transforming heavy stocks into gasoline and jet fuel.
Beaumont prepares a Spindletop Museum on a 10 acre site costing about 4.5 million. Lucas Gusher history highlights relics of early petroleum daring while steel derricks replace vanished wooden rigs. Anthony Lucas began drilling in 1900, with a famous 1901 gusher that transformed oil wealth and local life.
Trustees of the Permian Basin Petroleum Museum plan a six million dollar project with an endowment and funds for building exhibits and furnishings. negotiations with an architectural firm and exhibits consultant are nearing final stages as planning proceeds for a major industrial museum to educate outside the region about oil and gas achievements.
The South Plains Section of AIME and Texas Tech University host a two day Production Technology Symposium in Lubbock in Nov 2021. The program features education papers on polymer flooding and field histories with a Friday luncheon address by Michel T Halbouty and a pre-event cocktail party at the Koko Palace Convention Hall. The event aims to showcase up-to-date regional production technology papers drawn from the Society of Petroleum Engineers and Fall Meeting in Denver.
Houston based Humble Oil & Refining Co. chairman M A Wright and Fort Worth independent W A Moncrief will receive awards for long service to Texas petroleum at the 50th annual Texas Mid-Continent Oil & Gas Association meeting in Houston October 13-14. Wright holds multiple industry roles and public posts. Moncrief is recognized as a veteran independent operator.
Tulsa special report notes Alaska North Slope lease sale drew bids over 900 million dollars in high bids with a total around 1.676 billion. The Union Pacific Amex combine led for acreage with 66 074 acres across 26 tracts while new entrants posted strong numbers.
The American Petroleum Institute cites a 1968 survey covering 155000 insured properties with value over 12 billion dollars, reporting fire losses of 3.3 million and a rate of 6.9 cents per 100 dollars of insured value, down from 10.6 cents in 1967. The 407 fires largely caused under 16 thousand dollars in losses, with most incidents confined to oil company property and notable declines in natural gas and refinery losses.
Roark argues for a North American oil and gas policy with 80 percent of demand met from within the continent and limited overseas imports to 20 percent. He cites Canada as a key supplier, notes lower Canadian production costs, and calls for continued U S controls on crude imports from outside the Western Hemisphere.
Cardinal Chemical announces immediate staff promotions across Odessa Levelland Monahans and other offices. Elwood Montgomery becomes general manager of services in Odessa while Lamont Pitzer moves to station manager in Levelland. Lewis Schaefer rises to station manager Odessa and C O McCullough becomes senior sales engineer in Levelland. Gene Pruitt is named cement sales service manager in Monahans, Ray Moore succeeds him as manager in Monahans.
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