Domestic Industry Plans Capital Expenditure Hike
Tulsa special reports that the domestic oil and gas sector plans an 8 percent rise in capital spending to 6.7 billion in 1960 from 6.2 billion in 1959. Drilling and production lead with 4.1 billion, piping 1.1 billion, manufacturing 0.675 billion, and marketing 0.508 billion. Downstream units and petrochemicals gain, while refinery construction remains quiet amid 1957 peak capacity and 1958-87 declines. Natural gas piping dominates pipeline investment, accounting for over 80 percent of capex in recent years.
MENTIONED IN THIS ARTICLE
Tulsa
Domesttic Oil and Gas Industry
Oi Andl! Gas Journal
Cosden Reports Third Quarter Drop in Earnings
Cosden Petroleum Corp reports a 13 percent fall in net earnings for the three months ending Jan 31 1960 versus the prior year, while nine month net income rises 16 percent and cash flow 6 percent. President R L Tollett cites lower refinery product prices. Grace & Co has acquired just over 51 percent of Cosden stock and may influence petrochemical ventures and Libya exploration. The company notes ongoing NYSE trading, limited aviation fuel business in H1 1980, and a maintained 1.00 per share dividend with a 25 cent quarterly payout due March 30 to stockholders of record March 10.
MENTIONED IN THIS ARTICLE
Big Spring
Casden Petroleum Corporation
R. L. Tollett
W. R. Grace & Co
Cosden’s
Grace
Cosden
Libya
Tollett
Texas
Houston
United States
Texas Railroad
Commission
Sue
World Old
Tuary
West Texas and New Mexico oil sites show mixed gains
A weekly survey by Rinehart Oil Reports shows West Texas counties adding 59 new sites last week, including six wildcats and 50 development wells, while SE New Mexico counties rose to 41 new sites with six wildcats and 35 development wells. Ector leads West Texas with nine fields, Andrews second, and Lea County tops in New Mexico.
MENTIONED IN THIS ARTICLE
West Texas
New Mexico
Rinehart Oil Reports
Ector County
Andrews
Upton County
Eddy County
Lea County
Chaves County
Wisconsin Law School to Offer Admiralty Course
The University of Wisconsin Law School will offer a new course in admiralty law. Professor Nathan Fein explains that maritime commerce issues have grown more significant in the Midwest since the St. Lawrence Seaway opened.
MENTIONED IN THIS ARTICLE
Madison. Wis
University of Wisconsin Law School
Nathan Feinsinger
Midwest
St. Lawrence Seaway
24th Leap Year Birthday Marked
SNOHOMISH WASH AP Emma Schott celebrated her 100th birthday today born February 29 1960 in Adrian Michigan and has marked her birthday every four years except 1999 a calendar correction year. She moved to Snohomish in 1898 and recalled her eighth birthday as most memorable. Her remark about the horse shows a touch of humor as she notes aging with time.
MENTIONED IN THIS ARTICLE
Snohomish
Wash
Emma Schott
Mrs. Schott
Adrian
Mich
Aorse
Oil Firms Draft Emergency Plans For Disaster Readiness
Petroleum Week reports U S oil majors have prepared emergency blueprints including rural headquarters and standby plans. OCDM urged readiness for metropolitan crises. surveys show range from elaborate systems to routine record storage and occasional drills. Major players cited include Standard Oil of New Jersey, Socony Mobil, Texaco, and Standard Oil of Indiana. West Coast firms show little activity for alternate sites or active programs.
MENTIONED IN THIS ARTICLE
U. S
Petroleum Week
McGraw-Hill
Office of ‘Civil & Defense Mobilization
OCDM
Standard Oil Company of
New Jersey
Socoty Mobil O71
Texaco, Inc
Standard Oi Company
Indiana
Petrate
Geologists contemplate new Earth Scientists society role
Winter weather dampens demand forecasts for crude and products as inventories edge up. A study committee maps stricter credentials for geologists, proposing a self regulating body to replace AGI while preserving ties to major groups like the American Association of Petroleum Geologists and Geological Society of America.
MENTIONED IN THIS ARTICLE
Tulsa
Miliee
B. W. Beebe
Boulder
Cole
Academy of Earth Scientists
United Earth Scientists
Tocal
Tions
Geological Institute
Oil and
Ay Wuuritar
American Association of Petroleum Geologists
Geological Society of America
Society of Exploration Geophysicists
AGI
Legisla Itive
Permian Basin Rotary Drilling Rises Weekly
In the Permian Basin Rotary drilling activity rose last week per Reed Rotter Bit Co. survey. A Friday tally shows 246 active rigs, up from 235, yet well below the prior year’s 368. Lea County leads with 36 rigs, Andrews County in second, and Ector County with 21 rigs.
MENTIONED IN THIS ARTICLE
Permian
Reed Rotter Bit Company
Lea County
Andrews County
Ector County
Domestic oil and gas well completions rise in week
Tulsa report shows 830 completions for week ended Feb 20, up 91 from prior week with Illinois at 95 and notable gains in Indiana Arkansas Colorado Kansas Wyoming. Major states mostly down. total for year 6,500 wells, 731 below 1959 pace. Canadian completions 59, up 14. year total 31, same as last year.
MENTIONED IN THIS ARTICLE
Tulsa
Oil and Gas Journal
Illinois
Indiana
Arkansas
Colorado
Kansas
Wyoming
Louisiana
Texas
New Mexico
California
Oklahoma
Trade Magazine Urges Probe Into Oil Suits
Delhi-Taylor Oil Corp president Sewell announces stock purchases as Billups Eastern and others expand East Coast marketing. The Oil and Gas Journal editorial calls for investigation into anti trust enforcement and government actions, arguing the Tulsa oil trial verdict undermines the case as 29 companies were acquitted of price fixing during the 1956 57 Suez crisis.
MENTIONED IN THIS ARTICLE
Dallas
L. Sewi Jel
Delhi-Teytor Oil Corp
TULSA
ad/Eastern Petroleum Co
Sewell
U.S
Billups
H.H. Peyton
Congress
Dela
Ware
Florida
Tulsa Federal District Court
Department of Justice
Autopsy Slated In Dallas Deaths
Police expect an autopsy report within days to determine if Robert Buford aged 66 and Maude Turpin aged 55 froze to death in a Dallas house found Saturday night. The two were discovered seated on the floor, fully clothed, with no signs of violence.
MENTIONED IN THIS ARTICLE
Dallas
UPS
Robert Buford
Maude Turpin
Also Mentioned on This Page
Casden
Oil, Gas News
Geologists
Nancy Bower
Natural Gasoline Association of America
Beal Equipment Co
Odessa
Phillips Petroleum CO
Notrees
National Supply Co
National
North
N. Jackson
Scott Theatre
Northside
Church of Christ
Grantham
Financ Corporation
Chevron Finance Company
The
West Second Street
Chasvs, Texas
Rotary
Peste
Andrey
Batley Sedeas
Brewster
Jeff Day
Julet
Lincoln
Lynn Ean
Od Maran
Rene
Midian
Rennet Ona Peeree
Otero
Roosevelt
Fan’ Miguel
Echicicher Sterling Sutton
Tamerwall
Tom Green
Torrance, Saesers
Terrell
Shiatae
Terry
Delhi-Taylor Co
Niagara Mohawk Power
H.hentz &Co
Ammer
Wett Pomrth Street
New York City
Brumben
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