Oil Industry Faces Investment Problem
Two Chase Manhattan Bank studies warn the world petroleum industry faces a $400 billion capital shortfall to meet demand through 1985. They project earnings dips in 1972, higher taxes and costs suppressing profits, and a need for external funding to reach a 9.5 percent return on invested capital, with a total $1 trillion required by 1985 and $265 billion in net earnings. Westcoast Transmission and El Paso Natural Gas sign a pact to add 450 million cu ft daily by 1977 and fund up to $80 million for exploration, with Canadian price adjustments passed to El Paso.
MENTIONED IN THIS ARTICLE
Max B. Skelton
AP Oil Writer _ HOUSTON
New York
Chase Manhattan Bank
Chase
Ime
United States
Chase Manhattan
EPNG
Vancouver
B.C
Westcoast Transmission Co. Ltd
el Paso Natural Gas Co
Houston
Westcoast
Canada
el Paso
Sumas
Wash
U.S
Canadian
Unitization Debate Faces Senate Panel Over Oil Gain or Grab
In Austin a Senate subcommittee weighs seven hours of testimony on a unitization bill—opposed by independent oilman Wesley West who calls it a manufactured convenience potentially used to bully the public into new laws. Critics warn of job losses and higher costs while supporters link it to secondary recovery.
MENTIONED IN THIS ARTICLE
Austin
Tex
Senate
Senate Natural Committee
House
Wesley West
Houston
Energy
Ise
West
East Texas
Robert B. Payne
Payne
Texas Railroad Commission
N. P. Powell
Tyler
Texas
Texas Mid-Continent Oil and Gas Association
West Central Texas Organization
Basin scouting data from CHAVES to ECTOR drilling notes
Scouting report lists well activity by county and operator. CHAVES Terra resources shows 1 26 Owndy drilling at 5121 ft in June. Plains Radio S No 1 LE 36 drilling 1410 ft. COTTLE Riley Maxwell Co No 1 Clary reached 3625 ft abandoned. DAWSON Petroleum Corp No 1 Cantey Trustee open hole 12060 12070 ft pumped no oil. PICKENS Petroleum No 1 Haley 7265 ft plugged. ECTOR Amaco Production No 30 Smith G drilling 4876 ft. Atlantic Richfield No Johnson usage noted.
MENTIONED IN THIS ARTICLE
Chaves — Terra Resources
Owndy
Plains Radio Broadcasting
Cottle — Riley and Maxwell Co
Clary
Dawson — the Petroleum Corp
Cantey
P. Pickens
Petroleum Corp
Haley
ECTOR
Amaco
Smith “G
Atlantic Richfield
Johnson Usec
Odessa firm to drill No 1-B Mayer Jr wildcat in Sutton County
Amaco Production Co of Odessa will drill the No 1-B Edwin S Mayer Jr an 8100 foot Strawn wildcat 15 tiles NW of Sonora in Sutton County. Locations noted in Section 39 Block EF HC SF Survey Abstract 136. Nearby references include Canyon Gas and Ellenberger failure. Multiple other wells and activity listed with depths and statuses for regional oil exploration.
MENTIONED IN THIS ARTICLE
Amaco Production Co
Odessa
Edwin S. Mayer Jr
Sonora
Sutton County
Hc&sf Survey
Ormand Buys Two Advertising Firms in California and Nevada
Merc Scott of Scott Bros Inc and J D Ormand of Ormand Communications announce the acquisition of Scott Bros Inc stock and assets of Arlee F Scott Sign Co Stockton California for about 1 million dollars in cash and notes. The two firms operate outdoor advertising in Northern California and Reno Nevada. Ormand Communications via its subsidiaries Ryan Outdoor Advertising and Kennedy Outdoor Advertising engages in outdoor media across California Nevada and Arizona.
MENTIONED IN THIS ARTICLE
Los Angeles
Merc Scott
Scott Bros., Inc
J.D. Ormand
Ormand Communications, Inc
OTC
Arlee F. Scott Sign Co
Stockton
Calif
California
Reno
Nevada
Ryan Outdoor Advertising, Inc
Kennedy Outdoor Advertising, Inc
Ormand Communications, Inc Inc
Cere
Arizona
Oil spill hits Great Salt Lake in Farmington Bay area
Workmen cleared a waterfowl area of thousands of gallons of crude oil as investigators hunt the source. Officials seal a cemented pipeline about 20 feet up the line, while conservation crews use helicopters and airboats to keep ducks and swans safe. Booms were set across the canal feeding treated effluent to prevent more oil from reaching the bay.
MENTIONED IN THIS ARTICLE
Farmington, Utah
Agency of Cars
Farmington Bay
Great Salt Lake
Pool Makes Five Changes at Pool Odessa Region Office
Pool Company announces five management and regional changes in its Technical Services Region based in Odessa. Loyd T Ferguson becomes regional sales representative for Odessa. David S Hector named manager for Big Spring area. Pat Batts to lead Kalkaska Michigan office. Kenneth English named rig supervisor for Jefferson Ohio office. Ross Britt named rig supervisor for Rock Springs Wyoming office.
MENTIONED IN THIS ARTICLE
Pool Company
Odessa
Eecemg
F Bill Nso
Loyd T. Ferguson
Pool
Ferguson
Red Arrow Tools, Inc
Dresser Industries, Inc
David S. Hector
New
Big Spring
Pat Batts
New Area
Kalkaska
Mich
Battle
Pacific
Long Beach
Kenneth English
Jefferson Area
New Jefferson, Ohio
Ross Britt
Rock Springs
Wyo
Stafford Well Service
Rock Spring
Also Mentioned on This Page
Manhattan
Dallas
Eich
Gregg
Rusk
Hawkins
Wood County
Yates
Permian Basin
Ben
KOZA
Sherwood Baptist Church
Permian High School
Jay Pease
Pease
Craig Rehabilitation
Aea
Englewood
Cole
Pease Fund
Sherwood Baptist Gurch
Eddy — Maxwell
Paso Natural
Patterson
Union Oil of California
Verse Federal
Gaines
Jim Conine
Browne
McMoRan Exploration
Chilton
Union Texas
Wyatt Estate
Garza — Carter Development
Cannell Estate
IRION
Z.C. Ambrose
Crawford
Mitchell — Barros’ Kidd
Conway Heirs
PECOS
Chevron
Josephine Slaughter Estate
States No
Laco Gas Exploration
Superior Elsinor
Skeily No
Owens
Reeves — Adobe Gil
Monroe
Atapco
Quazar
Hermose
Lone Star
Touch
Schelicher — Frank Caraway
Cheaney
Sutton — Amaco
Aldwell Trust
Ward — American Quazar
Echols
Winkler — Hng Oil Co
University
LEA — Wil-Mac Oil Corp
Mabe
Elk Oi Co
LEM
Ormand
Anl
Permiar 1
Office Supply
Andrews Rwy
University & Grandview
Feen, Nongel
Sasal Spray
Masal Spray
Eee
SCOPE
Tron
Suiptret
Wacco
Michael Leonard
PRG
Gates
Strike Wrich
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