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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Aug 27, 1952
Page
3
Washington Aug 27 experts from Interior and Justice and the Senate Interior Committee are shaping a compromise to govern tidelands and share oil revenues if Stevenson wins. Ellender signals opposition in Louisiana while promising to back Stevenson in party lines.
Completions announced by the Railroad Commission include four wells across Basin counties Cochran Howard Pecos and Yoakum. Herman Graham No C 3 D S Wright in Levelland Field yielded 57 barrels per day from 4941 feet with 5 percent water and 10000 gallons treated. Fleming Oil Co No 3 L C Denman K in Howard produced 63 barrels per day from 2690 feet after shot with 690 quarts nitro. Gulf No 146 I G Yates in Pecos Toborg produced 17 barrels per day from 531 feet with no gas and 10 percent water, treated with 200 gallons. Shell No 4 A Baumgart A in Wasson flowed 1374 barrels from 4994 feet with 1016 to 1 GOR, treated with 20000 gallons.
Dr. K. A. Clark of the Research Council of Alberta will be guest speaker at the Interstate Oil Compact Commission Advisory Committee session during the ICCC summer meeting in Banff Alberta from Tuesday to Thursday.
U S and allied firms hold a strong share of world oil output and reserves, shaping a wartime edge. Government accuses seven Western oil majors of profit-driven control, while companies deny cartel ties and say actions followed State Department approval. Iran visit by W Alton Jones noted as oil Mess unfolds.
Ten or twelve young Black Angus bulls 17 and 18 months old from popular blood lines will be offered at the Midland Livestock Auction Co sale in Midland on Thursday August 28. Registration papers furnished. Grand sire was an international Chicago champion. Sale begins at noon.
Wildcat locations confirmed in Martin and Winkler Counties in District 8. Shell Oil Co No 52 Sealy Smith Foundation near Monahans aims to test to 5250 feet, 660 feet from section lines, starting by Sept 2. Rucade Oil Corp No 1 M J Stimson Jr plans to drill to 4500 feet about 15 miles northeast of Midland, starting by Sept 1.
Humble Oil and Refining Co announces a new oil field in Bayou Chene St. Martin parish southern Louisiana. The Mrs W H Crowson No 1 wildcat well produced 281 barrels per day of 377 10 gravity oil through a 12 inch choke after a depth test from 10 691 to 10 696 feet three miles south of Lake Mongo w lois field and about 20 miles southwest of Baton Rouge.
McBride Refining Co. launches a $500000 La Blanca plant east of Edinburg using the Atlantic reforming process. The catalytic reforming method with platinum catalyst raises high octane gasoline production from crude, starting Aug 4 after November 1951 start. Plant outputs about 3000 barrels daily with 3500 pounds of platinum accounting for much of cost. Atlantic Refining plans units at Port Arthur and Philadelphia while La Blanca marks first full scale commercial application.
All but one major gas companies paid July gathering taxes under protest after a district court ruled the tax unconstitutional. United Gas Pipe Line Co and Tennessee Gas Transmission Co led protests with 100 152 and 118 350 respectively while El Paso Natural Gas Co paid without protest. Estimated protest payments total about 850 000 with up to 125 000 without protest. Appeal to the U S Supreme Court likely, potentially two years. Legislative aim was 12 to 14 million dollars yearly.
Five major U S oil firms will not testify in public hearings on an FTC report alleging an international oil cartel with two large British firms. Standard Oil of New Jersey declined to testify, hearings may still occur, and a grand jury investigation into oil monopoly charges looms next month.
U S crude oil production rose to a daily average of 6 295 925 barrels in the past week per the Oil and Gas Journal Kansas led gains up 6 850 barrels followed by Michigan 6 400 and California 4 200 Output gains occurred in Colorado Oklahoma while Texas and Wyoming held steady Arkansas posted the largest loss 3 550 barrels Illinois fell 1 400 Louisiana down 750 and New Mexico down 100
The Railroad Commission details five new oil well sites across Ward Lynn and Scurry counties. Ard Drilling Co in Abilene and Garza Land and Cattle Co in O Donnell target depths near 4 600 and 9 200 feet respectively. Creslenn Oil Co in Sharon Ridge and University Lands near Wickett also plot shallow to mid depth drills, with precise section lines and distances listed.
Bernard Baruch arrived in New York from San Francisco and again declined to state his preference in the presidential race.
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