Market drifts lower in dull trading across New York
New York stocks edged down in slow turnover with the AP average of 60 stocks dipping 0.50 to 250.40 at noon. Industrials, rails, and utilities fell modestly while some issues gained. General Electric and Lockheed posted notable moves as the market drifted amid hopes of recovery and cautious sentiment from major brokers.
MENTIONED IN THIS ARTICLE
New York
Associated Press
General Electric
Lockheed
du Pont
American Telephone
U. S. Steel
Gulf Oil
American Tobacco
Goodrich
General Dynamics
Johns Manville
Consolidated Edison
Goodyear
Sears Roebuck
Dow Jones
U. S
UPI
Carl M. Loeb
Rhoades & Co
Rhojades
TXL Completes Reeves Outpost in Reeves County
TXL Oil Corp reports Reeves Outpost No. 1-P Reeves completed as fourth producer eight miles west of Orla in Reeves County. It tests at 39 gravity oil through a 10/64 inch choke with 2499 to 511 feet depth and fracturing with 2000 gallons. Nearby northeast outpost No. 1-R Reeves staked 21 miles northeast, depth 255 feet, location in Section 23, Block 58, Township 2, TP Survey.
MENTIONED IN THIS ARTICLE
TXL Oil Corp
Reeves
Reeves County
Orla
Screwbean
Delaware
Block 38
Township 2
Lunes
Screabean
Wildcat Well Odds Cited In Oil Prospects
New York special report notes that a wildcat well has a 60 percent chance of profitability in an area with no oil yet found. API publication Oil Facts defines profitable as uncovering at least one million barrels of oil reserves.
MENTIONED IN THIS ARTICLE
New York
American Petroleum Institute
Noted Oilman Died Monday
Charles Louis Rowan 70, board chairman of Rowan Drilling Co and director of Rowan Oil Co, died Monday in a hospital. A Bryan native, he belonged to the American Petroleum Association and the Texas Independent Producers and Royalty Owners Association. Survivors include his widow, son William A. Rowan, daughter Mrs Elton M Hyder Jr, and brother Arch Rowan. Funeral at 10 A.M. Wednesday at University Christian Church with Rev Granville Walker. burial in Greenwood.
MENTIONED IN THIS ARTICLE
Fort Worth
Charles Louis Rowan
Rowan Drilling Co
Rowan Oil Co
Bryan
Rowan
American Petroleum Association
Texas Independent Producers and Royalty Owners Association
William A. Rowan
Elton M. Hyder Jr
Arch Rowan
University Christian Church
I Granville Walker
Burijal
Greenwood
Three Testers Filed To Drill In West Texas
Texaco Inc., Midland, No 1-B N B Birge to be drilled 11 200 feet southeastern Gaines County wildcat 14 miles east of Seminole. Location 1980 feet from south and east lines of Section I Block C-43 PSL Survey on 240 acre lease. Also UTEX Exploration Co Abilene No LC L Turner to drill 2850 foot Kimball County wildcat nine miles west of Junction. SUNRAY Mid-Continent Oil Co Io 2 J E Henderson to drill 4200 foot southwestern Concho County wildcat nine miles southwest of Eden.
MENTIONED IN THIS ARTICLE
Texaco, Inc
Midland
Gaines County
Seminole
Champion Field
PSL
Utex Exploration Co
Abilene
LC. L. Turner
Kimball County
Junction
Bbbe&c
A. H. Martin
Sunray Mid-Continent Oil Co
J. E. Henderson
Concho County
Eden
Henderson
Ellenburger
Sojourner Drilling Co Abilene 10A Plugged And Abandoned
Sojourner Drilling Co Abilene No 10 A C B Long in Stonewall County wildcat 13 miles northeast of Aspermont has been plugged and abandoned at 5991 feet. Location spots 2970 feet from the south and 990 feet from the east lines of Section 1 GH SH Survey.
MENTIONED IN THIS ARTICLE
Sojourner Drilling Co
Abilene No. 10
Stonewall County
Aspermont
Crockett
Eason and Hancock
Big Spring
University
Gas From Penn TXL Well Near El Dorado Production Tests
Schleicher County wildcat 25 miles north of El Dorado still on production tests after flowing gas from the Pennsylvanian. In 24 hours the well produced 1,500,000 cubic feet of gas and 33 barrels of fluid, with 90 percent distillate through a 25/64 inch choke. Total depth 7292 feet, casing set to 6602 feet. Location 1980 feet from south and 690 feet from west lines of Section 12 10, Block T, TCRR Survey, on 400 acres. J. F. Hodge, Fort Worth, No. 1-B University, to be drilled as a 1/4 mile southwest outpost to Bakke multipay field, Andrews County. Contract depth 580 feet. Location 1991 feet from south and 660 feet from west lines of Section 4, Block 1, University Lands Survey. Ohio Oil Co. No. 1 B. H. Ivey staked as a 7 mile northwest stepout to Dwell Linker pool, Hock County, four miles west of Levelland. Scheduled for 200 feet. Location 467 feet from south and west lines of Section 25, Block 29, Atascosa Survey.
MENTIONED IN THIS ARTICLE
TXL Oil Corp
Midland
L. Henderson
Schleicher County
Wildcat
Eldorado
Dove Creek
Strawn
TCRR
J. F. Hodge
Fort Worth
University
Andrews County
Andrews
University Lands Survey
Ohio Oil Co
B. H. Ivey
Dwell Linker
Hock Jev
Levelland
Atascosa Csl Suny
Lea Morrow Gas Strike Finaled At El Paso Co
El Paso Natural Gas Co in Lea County completed the Lea Morrow gas strike in the Lusk field 23 miles west of Pearl. The 24 hour test produced 31.5 million cubic feet of gas daily and 40 barrels of 56 gravity distillate through perforations at 12 380 to 12 398 feet. Gas to oil ratio was 24790 to 1. The well previously produced 640.8 barrels of oil via 14 inch choke at 11 222 to 11 252 feet. Location 660 feet south and 1980 feet east of Section 18 19S 32E.
MENTIONED IN THIS ARTICLE
el Paso Natural Gas Co
el Paso
Lusk Federal
Lea County
Lusk
Bone Springs and Strawn
Pearl
Strawn
Oilfield Drilling Summary from Basin Andrews-Humble Area
Drillers report two hour drillstem tests in the Devonian with mixed shows. multiple rigs including Humble, Texaco, Sinclair, and Conoco test depths from 3,000 to 13,166 feet, with mud returns and various acidizing and casing actions. Gas and water shows noted at several wells. ongoing drilling and testing across numerous leases and locations in the Midland and surrounding basins.
MENTIONED IN THIS ARTICLE
Andrews
Humble
Means
Novall
Lien Filed Against Lena Horne and Husband
A lien filed Monday against singer Lena Horne and her husband Lennie Hayton charges them with owing 5847 dollars in federal income tax for 1958 and 5588 dollars for 1959, according to federal records in Los Angeles.
MENTIONED IN THIS ARTICLE
Los Angeles
Lena ‘Horne
Lennie Hayton
Once In A Lifetime Job Opportunity Ad
An international company with over 200 offices seeks individuals for a long term opportunity promising a wonderful future or extra income. It offers promotional support, training, field supervision, national advertising, and access to sales leads. Written: R. G. Krauthoefer, VP Manpower Inc Milwaukee Wisconsin.
MENTIONED IN THIS ARTICLE
Odessa
Pennsylvanian Oil Strike Finaled In Ward County
Gulf Oil Corp Midland completes a Pennsylvanian oil discovery in Ward County. The No 529 Hutchings wildcat flowed 221 barrels daily at 7860 8040 feet after acidizing with 1000 gallons. Gas oil ratio 1486 1. Total depth 8350 feet. Nearby No 515 Hutchings recently yielded 14 3 million cubic feet gas daily and 4 barrels oil. Location details given for Section 70, Block N, GMMB&A Survey.
Oil and gas shows in Crane County wildcat well No 1 J B Tubb
The 6000-foot Crane County wild cat 15 miles west of Crane shows oil and gas after a 2 hour drillstem test from 5350 to 5472 feet. Gas surfaced in 21 minutes with 372 feet of heavy oil and gas cut mud and 4285 feet of sulphur water. Flow pressure 570 to 2130 psi. Location near west lines of Section 21, Block B 27, PSL Survey.
MENTIONED IN THIS ARTICLE
G&mmb&a
TXL Oil Corp
Graham
Crane County
Penwell
Edwards Ranch
PSL
Limpia Royalties, Inc
Midland
J. B. Tubb
Crane
Ellenburger
Sand Hills
Wolfcamp Deep Yoakum Strike Gauged Discovery at Denver City
PAN AMERICAN Petroleum Brownfield No 1 A J L Gammon Yoakum County wild cat six miles northeast of Denver City completed as a Wolfcamp discovery. On 24 hour test the well flowed 215 barrels of 39.5 gravity oil per day from 9267 82 feet. gas oil ratio 241. total depth 10 492 feet. casing 414 inch to 10 400 feet. Nine miles southwest of Wolfcamp production in Wasson field. Location 660 feet from south line and 1980 feet from west line of Section 675 Block D J H Gibson Survey on 640 acres. TEXACO Seaboard Inc No 1 B N G Kent Tom Green County completed as Strawn oil discovery in Kent Strawn gas field. Flowed 109 barrels of 40.3 gravity oil per day through 12 64 inch choke at 4708 28 feet. Gas oil ratio 853 1. Total depth 4841 feet, casing 44 inch to 4790 feet.
MENTIONED IN THIS ARTICLE
PAN American Petroleum, Corp
Brownfield
No. 1
A J. L
Gammon
Yoakum County
Wildcat
Denver City
Wolfcamp
Wasson Field
Kent
Rogers Elected Vice-President of Champlin Oil
Hamilton Rogers was elected executive vice president of Champlin Oil & Refining Co. effective July 1. Currently with Texas Pacific Coal & Oil, he led Champlin’s board meeting after the election. Rogers has 17 years with Rowan Oil interests in Fort Worth and was Rowan’s president before joining TP. No successor named. TP will consider options. He is active in oil associations and a former president of the American Association of Petroleum Landmen.
MENTIONED IN THIS ARTICLE
Hamilton Rogers Monday
Champlin Oil & Refining Company
Rogers
Texas Pacific Coal & Oil Company
Fort Worth
Champlin
Rowan Oil
Rowan Oil Company
Texas Pacific
H. B. Fuqua
Charmant
American Tec of Petroleum Landmen
Oil and condensate production up in week ending June 10
Texas added 39,300 barrels to 2,499,600 while Oklahoma fell 21,100 to 495,000 and Kansas declined 19,525 to 291,800. Louisiana rose 4,175 to 1,159,675 barrels, with total crude and condensate output at 7,058,685 barrels for the week. Arkansas inched up 25 to 0,950.
MENTIONED IN THIS ARTICLE
TULSA
Texas
Oklahoma
Kansas
Oil and Gas Journal
Louisiana
The
Journal
Arkansas
Kennedy Orders 12 Years Tax Returns Opened for Probe
President Kennedy ordered tax returns for 12 years opened for inspection by the House Public Works Committee in connection with its investigation of the federal aid highway program.
MENTIONED IN THIS ARTICLE
Washington
Kennedy
House Public Works Committee
Connecion
Humble Oil forms new supply and transportation dept
Humble Oil and Refining Co announces formation of a supply and transportation department as part of the headquarters organization. T. W. Moore names D. M. Cox as supply and transportation coordinator and designates four managers for crude oil, products, purchasing, and traffic.
MENTIONED IN THIS ARTICLE
Houston
Humble Oil and Refining Co
T. W. Moore
Moware
D. M. Cox
John G. Yeager
C. C. Garvin Jr
Haylett O'Neill
N. C. Dun
Esso Standard
New York
Yeager
Lake Charles
Louisiana
Humble
Rice University
Conroe
New Orleans
Also Mentioned on This Page
OEY
Techaney Ai Coop
Anaconda
Amer Ol
Deere Eesee
Beeca
Detroit Steel
Detroit Steel Pseseeneeseeee 17? Deeplas Aif
Dan Paso
Gasecon
Ford Motor Co
Foremost Davies
Giea Alden U.tex
Sean Hupp, Corp
Interlake Imp
Inter Harvester
Jones & Laughlin
Kaiser Aluminum
Magnavox
Mquartwee
Snomherm Natl Gas J
Fenney Rowan
Cork General
MacDonald Aid Neaee
Wester Union General Oener
Lone Star Gas
Mirmerals & Chem
Ssecenseesnserae
Wagomery Ward
New York Central RR
Westinghouse
Elsc
Wall Street Charter
Alan C. Poole
Hemphill,Noves & Co
Standard & Poor’s
TXL
Cosden Petroleum Corp
Cosden
Badger Manufacturing Co
Cambridge
Mass
West Texas
Schleicher Explorer
Penn
Geronds
Marten
Breorht
Marie
T. L Miller
North Grant St
Lea Morrow
Periman
Borden
Texaco
Clayton, Drilling
Bell
Mobil Glenn
EE State
Constantine
Bair
Batley
Dawson
Bruster
Bartle
Abercrombie
Wright
Sinclair
Ector — Faskens
Foster
Barrow
Eddy — Sinclair
West
Gaines
Ashman
Hilliard
Norman
Conoco
Glasxock
Homer
Reed
Hockley
Great Western
B&h
Hamon
Johnston
Ohio
McLaury
Mayes
San Wallace
LEA
Mescalero Ridge
Federal
Lower
Yates
McAlister
State
Ohio Wilson
Bone Springs
Tidewater
Williamson
Lone Star
Oldham
Lien
Lena
R. G. Krauthoefer
V. P. Manpower, Inc
N. Plankinton Ave
Milwaukee
Wisconsin
Ward County
WE At
Gulf Oil Corp
Hutchings Stock Association
Monahans
Hutchings
Fer
Champlin Oil
Humble Farms Transportation Supply Office
Abc’s
Dodge
Rick
Ector Motor Company
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