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Newspaper
Odessa American
Location
Odessa, Texas, United States of America
Date
Jun 26, 1964
Page
5
A flurry of drilling activity spans Yoakum, Reagan, Reeves, Pecos, Tom Green and Crockett counties. Wells include Humb le No 32 Randall and Great Western No 18A University testing Devonian and Ellenburger zones, with planned depths from 2 000 to 9 600 feet and rotary tool operations.
A summary of numerous drilling operations with depths and tests across many operators including Humble Oil, Pure Oil, Texaco, Shell, Socony Mobil and Continental Oil. Notable depths reach 20,046 feet at Pure Oil and 16,157 feet for Socony Mobil.
Ector County's Sonny B Fusselman Wolfcamp field yields fourth producer as Texaco No. 150 W. E. Connell southwest of Odessa pumps 144 barrels of oil at 40.6 gravity with 77 barrels water and a 1071 to 1 gas ratio. Wolfcamp extension and acidizing details noted. Additional gains include a Strawn producer near Jal and an I. W. Lovelady test in Crockett County with oil and gas shows, plus minor mud returns from Great Western University unit test.
The Dow Jones Industrial Average climbs to 829.68, up 2.20, while utilities dip to 143.30, down 0.08. Several blue chips like Amerada Petroleum and American Machine show varied results amid overall activity, with many steel and chemical stocks listed and percentages noted for gains and losses.
Birdwell Oil Co. will drill a test in Stonewall County six miles north of Hamlin and a second outpost 717 feet from the south and 414 feet from the west lines of Section 6. No. 1 Gulf University outpost lies a half mile south of Humble Oil & Refining Co. in Austin & Williams Survey No. 348. In Pecos County No. 1 Hinyard in the Hinyard field is 19 miles east of Fort Stockton with a drillsite 467 feet from the north and 1,980 feet from the east lines of Section 1, Block 21. Contract depth is 2,600 feet.
Phillips Petroleum of Bartlesville Oklahoma and Imperial Chemical Industries of London England form a joint venture to erect a refinery in northeastern England. The plant will process about 5 million tons annually or 100000 barrels a day. Phillips acts as sales agent for refinery products except naphtha, which ICI will use in petrochemical operations. Start of operations is slated for early 1966.
B. J. McCray of General Oil celebrated 27 years with the company in Odessa since 1943. He received a silver tray from L. P. O'Neill and George Rhodus at a Chuck Wagon Barns event. McCray and wife Elsie will stay in Odessa. son J. B. McCray works in local insurance. He recalled sand fracturing as a pivotal oil industry milestone in the Permian Basin.
UPI reports Treasury accounts through June 23 showing withdrawals 122.226 billion dollars and deposits 118.008 billion. The cash balance stands at 10.721 billion negative, with public debt at 311.665 billion and gold holdings of 15.461 billion.
Standard Oil Co. of Texas reshapes its western division based in Midland adding 15 personnel and creating three new Midland departments. The Pecos district around Fort Stockton is abolished and absorbed by the Mona hans district. Snyder and SACROC districts stay unchanged. J. R. Graham heads the western district with broader authority centered in Midland, Houston, and Gainesville.
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