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Ohio Oil Co Sees Upturn in First Quarter 1959
Ohio Oil Co reports all operations upturn in the first quarter of 1959 with refinery runs up 5 percent, pipeline traffic 7 percent, refined product sales up about 89 percent, and liquid hydrocarbons up nearly 14 percent. Net earnings total $10.2 million, up 22 percent from 1958. Directors increased from seven to ten. A major discovery is the Federal McGrail No. 17 in Roosevelt County New Mexico testing at 719 barrels of oil per day with offset wells drilled. The company cautions on government price control programs while asserting favorable 1959 prospects amid improving demand.
MENTIONED IN THIS ARTICLE
Findlay
Ohio
Ohio Oil Co
J C Donnell II
Donnell
W. H Barlow
G. J. Bish
C. 4. Jackson
J. C. Donnell II
C. Hardwick
Rl H. West
H W. Stewart
J. R. Donnell
P. L. Henderson
McGrail No. 17
Roosevelt County
New Mexico
Discovery
Ohio Oil
Wildcat