Panel Probes Gas Oil Group Spending and Tax Deductions
Senate panel hears testimony on the NGO committee funded by oil and gas firms. Leonard F. McCollum, Continental Oil president, says over 134 million dollars was spent on an education program and that contributions may be deductible business expenses. Senator Ander Bon questions if such costs are legitimate deductions under the tax code.
MENTIONED IN THIS ARTICLE
Washington
Ander Bon
D-Inm
Senate
Andersen
Natural Gas and Oil Resources Committee
NGO
Special Senate Committee
Naturaligas
Eisenhower
Leonard F. McCollum
Houston
Tex
NGO Committee
McCollum
Continental Oil Co
Anderson
Federal Treasury
Sen. McClellan D-Ark
Investiating Committtee
Offshore Drilling Halted By Court Ruling Shuts Down Work
A Supreme Court order halts new offshore drilling in disputed lands prompting a work stoppage by about 300 crewmembers across 10 geophysical teams. Some 86 rigs remain active with crews averaging 70 men as a boundary dispute between Louisiana and the federal government over mile limits delays drilling until resolved.
MENTIONED IN THIS ARTICLE
Morgan City
Supreme Court
Louisiana
Fort Worth Livestock Prices See Mixed Movements
AP reports Fort Worth cattle tonnage with calves 100 steady medium to good steers 14.00 to 17.00 fat cows 10.50 to 13.00 good calves 16.00 to 19.50 and medium to lower 10.00 to 15.00 hogs steady choice 16.50. San Antonio lists all untested cattle calves hogs sheep and goats with averaged fed heifers at 19.25 and stock steer and heifer calves 17.00 to 20.00.
MENTIONED IN THIS ARTICLE
Fort Worth
San Antonio
Oil well drilling and testing roundup with multiple operators
The report details extensive drilling activity across numerous oil fields and companies. It lists wells by operator and location, depths reached, swabbing results, tests, perforations, and fluids recovered, noting ongoing drilling and testing in several formations.
Oil field drilling progress across multiple units
A detailed rundown of drilling activity across basins from Monterey to Midland and Pecos. Entries include company names such as Shell, Humble, Texaco, and Atlantic, with depths ranging from a few hundred to over ten thousand feet, tests and recoveries noted, and the Upper Crane Fork and other formations mentioned.
Wildcats Schedule In Two WT Counties
Two wildcat sites staked in Texas this week. Continental Oil Company files in Andrews County for the No. 1 I. T. Lindsay on a 644 acre lease nine miles west of Andrews, target depth 12 700 feet. Dykes Drilling Company files in Tom Green County for the 0 1 Alice Duff ten miles south of Christoval on an 8 acre lease. target depth 7 500 feet. Ground level 2317 feet.
MENTIONED IN THIS ARTICLE
Andrews County
Tom Green County
Continental Oil Company
I. T. Lindsay
PSL
Gurvey
Andrews
Dykes Drilling Company
Sanelo
Alice Duff
Gc&sf Survey
Wildcat
Christoval
Fisher Wildcat Flows On Test Near Roby
General Crude Oil Company’s No 1 John Dooley wildcat, nine miles southwest of Roby in Fisher County, flowed oil on a drill stem test of the Ellenburger top from 7232 to 7260 feet. The tool was open 3 hours 45 minutes with gas surfacing 13 minutes and oil 7 minutes. oil rate about 10 barrels per hour for 2 hours 32 minutes. Recovered 5130 feet of oil, 145 feet of oil and gas cut mud, no formation water. Flow pressure 2135 pounds, 20 minute shut in pressure 3045 pounds. Wildcat at total depth 7260 feet in a dolomite interval while electrical logs run. project located 660 feet from south and west lines of section 171, block 3 H&TC survey.
MENTIONED IN THIS ARTICLE
General Crude Oil Company
John Dooley
Wildcat
Roby
Fisher County
New Contract Slated For Sinclair Workers
Kansas City reports a new contract is slated for Sinclair Oil Corp workers after union and company negotiators agreed on terms. Marvin Zeldin of the Oil Chemical and Atomic Workers Union said details would be released later as negotiations began May 28.
MENTIONED IN THIS ARTICLE
Kansas City
Sinclair Oil Corp
Atiik
Marvin Zeldin
Sai
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