Oil firm reports tax burden crippling capital needs
Survey of about fifty oil and gas annual reports for 1951 shows capital expenses exceeding net income and tax deductions kept low. Reported by Ernestine Adams, this prosperity costs too much as companies fund replacement and expansion mainly through borrowing, stock sales, and smaller dividends.
MENTIONED IN THIS ARTICLE
Dallas
Ernestine Adams
US Ljus
Petroleum Engineer
International Oil Publications
Miss Adams
IPAA Publishes Expanded State Oil Reference Book
The Independent Petroleum Association of America releases a 1952 edition of The Oil Producing Industry in Your State a comprehensive state by state reference with expanded data on reserves production drilling and economic value through Jan 1 1952. It highlights North Dakota’s new oil well and notes the work’s use in 133 colleges.
MENTIONED IN THIS ARTICLE
Tulsa
Independent Petroleum Association of America
North Dakota
Ipaa Information Service
P. O
Spraberry Group To Meet Thursday
The Spraberry Study Group of the Permian Basin Section of AIME will meet at 1 30 p m Thursday in the Magnolia conference room Midland. The subject is Artificial Lift for the Spraberry Trend. All interested persons invited. discussion about two hours. The group was organized by the local chapter of AIME.
MENTIONED IN THIS ARTICLE
Permian Basin
AIME
Magnolia
Midland
American Institute of Mining and Metallurgical Engineers
Midland to Store LPG Underground in Midland County
The Texas Railroad Commission authorized Tex-Harvey Gasoline Co to underground store butane and propane from its Tex-Harvey Field plant. LPG will be injected into four storage wells in the northeast quarter of Section 14, Township 3 South, Midland County, if wells are cased to prevent migration.
MENTIONED IN THIS ARTICLE
American Austin Bureau
Austin
Tex-Harvey Field
Midland County
Tex-Harvey Gasoline Co
Texas Railroad Commission
Township 3
T&p Railroad Co
Gaines County Tester Completes Wildcat At Aurora Co No 1
Gaines County tester completes initial daily potential of 209 barrels of 33 gravity oil pumped from perforations between 9 678 and 9 703 feet. Test indicates gas oil ratio 128 to 1 and water content five percent. Lugged back total was 9 727 feet.
MENTIONED IN THIS ARTICLE
Aurora Gasoline Co
M. 3
Doss Wildcat
Gaines County
Desk and Derrick Club Plans Evening Barbecue and Dance
The Odessa Desk and Derrick Club will hold a barbecue and informal dance at 7 30 p m today in Ector County Auditorium. About 100 oil women and guests attend served by the Odessa Chuck Wagon Gang. Miss Josephine Nolen, a long time Gulf Oil employee, will be honored as she retires after over 15 years. The club welcomes all women employed in oil and related industries.
MENTIONED IN THIS ARTICLE
Desk and Derrick Club
Odessa
Ector County
Odessa Chuck Wagon Gang
Virginia Porter
Southwestern Business Service
Josephine Nolen
Odessa Oil Company
Nolen
Gulf Oil Corp
Wells Drilling Plans Across Eight Texas Counties
The Railroad Commission notes eight proposed wells in Pecos County and multiple drill targets across Andrews Cochran Gaines Scurry Ward and Yoakum counties. Projects include Standard-Masterson in Lehn, Shell in Robertson, and others near Fort Stockton Seminole McCamey Snyder Iraan Grandfalls and Plains with depths from 1 100 to 6 900 feet and various sectional offsets.
MENTIONED IN THIS ARTICLE
Dist
Railroad Commission
Pecos County
Ward
Andrews
Cochran
Gaines
Scurry
Yoakum
Andrews County Signal Oil and Gas Co
Leta Jones
Fuhrman - Masche
Iouth
Cochran , Blackwood and Nichols
S. Dean
Slaughter
League
Lipscomb Csl
Surrey
Sundown
Gaines Shell No
T. O. Stark
Robertson
H&gn
Fort Stockton
Albert W. Adkisson
JS. Oates
Oates
T&p
C.B. Harrison
la Gloria Corp
Fred Clarkson
T&stl RR
Yates Oil Syndicate
Douglas Oil Co
Yates
Gc&sf
Iraan
Scurry Lone Star Production Co
Guy’Glenn
Kelly-Snyder
Kirkland and Fields
Snyder
Ward Prince Brothers Drilling Co
Hall and Roberts
South
W.R. Roach
South Ward
H&tc
Royalty
Yoakum Brinsmere Oil Co
Abilene Christian College
Wasson Field
J. H. Gibson
Plains
Phillips Men's Club Dance Set Friday in Midland
The Permian Basin Chapter of the Frank Phillips Men's Club will hold an informal dance at the Scharbauer Hotel ballroom in Midland at 9 p m Friday Tickets cost 2 per couple and may be bought at Phillips Odessa reception offices or from Gerald Tucker in Midland Tucker is general chairman and urges members to bring guests for whom tickets cost the same The semi annual event is open to all male company employees with members from Odessa Goldsmith Midland Crane Fullerton Judkin Andector Hobbs Eunice TXL Buckeye Seminole and Spraberry The chapter plans a stag e party June 27 in Odessa featuring hunting and fishing color movies and a raffle of fishing tackle plus buffet dinner and refreshments Co chairmen of arrangements are R C McCutchan and Jack Templeton both of Odessa.
MENTIONED IN THIS ARTICLE
Permian Basin
Frank Phillips
W. L. Phillips
Odessa
Goldsmith
Midland
Crane
Fullerton
Judkins
Andector
Hobbs
Eunice
Ector County
R. C. McCutchan
Jack Templeton
Louisiana Plans New Tidelands Fight
Louisiana will continue its battle for tidelands rights if Congress fails to override President Truman's veto. Attorney General Fred LeBlanc told the House Appropriations Committee that a veto override would require defining precise boundaries and noted California l Texas spend far more. He proposed a two year AG budget totaling 507 280 with 150 000 for titles and legal work. the committee approved.
MENTIONED IN THIS ARTICLE
Baton Rouge
Louisiana
Congress
Truman
Fred LeBlanc
House Appropriations Committee
California
Texas
LeBlanc
House
Snowden et al to Drill 8500-Foot Borden Test Near Ackerly
James H. Snowden and partners plan a wildcat well No 1 in Borden County about 14 miles east of Ackerly. The 8500 foot test starts June 9 near Section 24, Block 32, T3N, T&P Survey.
MENTIONED IN THIS ARTICLE
James H. Snowden
City officials begin tour of Colorado River Municipal Water District project
City Manager Dick Pepin and Councilmen Ed Costello L B Cooper and George Shows led a tour of the Colorado River Municipal Water District project detailing inspection plans and progress.
MENTIONED IN THIS ARTICLE
Colorado River
Junior Bridge Club Meets at Brooks
Mrs. W. E. Brooks Jr. hosted the Junior Bridge Club at 814 West 21st Tuesday evening. Mrs. Aubrey Evans tops in bridge while bingo winners were Mrs. C. H. Norman Jr. and Mrs. Charles Templeton.
MENTIONED IN THIS ARTICLE
Brooks
W. E. Brooks, Jr
West 21St
Aubrey Evans
C. H. Norman, Jr
Charles Templeton
Seven Area Counties Share Eleven Field Well Completions
Completion reports filed for eleven wells in seven Odessa area counties. Midland County adds three new producers. Kent and Pecos two each. Ector Cochran Glasscock and Scurry one apiece. Wells include Rio Hondo No. 2 Parker C in Goldsmith producing 184 bbl of 42 gravity oil and multiple others with varying gravities, GORs, water content, and treatment fluids. The data covers depths from about 1 004 to 7 060 feet across fields in Driver Slaughter Oates Shearer Snyder and Kelly-Snyder areas.
MENTIONED IN THIS ARTICLE
Odessa Area
Midland County
Kent
Pecos
Ector
Cochran
Glasscock
Scurry
Ector County
Rio Hondo Oil Co
Parker “C
Goldsmith
Superior
Creek
Midland Atlantic No
Schreck
Driver
Atlantic No. 6 Schreck
Atlantic No. 6 Schrock
Pecos Childress Royalty Co
Scurry Pure
C. B. Whatley
Kelly-Snyder
East Texas May Get Big War Factory
The Dallas Times Herald reports a multi million dollar defense plant to be built in Harrison County near Karnack at Longhorn Ordnance Works. Rep Wright Patman says the Defense Department will announce its decision soon. About 2,500 workers to construct and 1,000 to staff the facility, drawing personnel from within 100 miles.
MENTIONED IN THIS ARTICLE
Dallas
Harrison County
Dallas Times Herald
Washington
East Texas
Longhorn Ordnance Works
Lor Karnack
Wright Patman
Texarkana
Patman
Defense Department
Federal Man Says Most Oil Supply In Reserve
PAD official C. Davis told Society of Automotive Engineers that world oil generally suffices but new emergencies could drain reserves. He warned residual fuel oil and aviation gasoline remain scarce while other supplies look adequate.
MENTIONED IN THIS ARTICLE
Atlantic City
N.J
Petroleum Administration For Defense
C. . Davis
PAD
Davis
Society of Automotive Engineers
Judge Objects To Punishing Family For Drunken Driving
Minneapolis Judge Tom Bergin argues that repeat drunken driving should punish the offender directly rather than his family, stating the fault lies with the individual and not relatives.
MENTIONED IN THIS ARTICLE
Minneapolis
Tom Bergin
Also Mentioned on This Page
IPAA
SUL Ross College
Alpine
Tex
Funeral Home
Peel
North Grant—Pho
W. B. Ditmore
Sonotone OF
North Texas
N. Belmont
Spraberry Group
Derrick
Bucks County
Fairless Works
United States Steel Co
Pet
Off
NEA Service, Inc
America
New York
E. Phillips
West Seventeenth Street
San Angelo
C. E. Davis
Mount Vernon
el Paso
Alexander- Smith
Bigelow
Gulistan
Mohawk
Downs
Firth
Pittman
Floor Covering Co
Sweetwater, Texas
Oak St
C. S. Dean
Glasscock Gulf
TXL
Kent Chapman
McFarlin No
Cogdell
Chambray
Dunlap’s
West
Kodak Films
West Texas
Furniture Mart
Norge Appliances
North Lee
Yocum Bros
Reading
Sr Tk
This is just the beginning! Our collection holds over 300 years of history, including rare newspapers, obituaries, marriage records, birth records, and so much more—most of which you won’t find anywhere else!