Word: amerada
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Miller first met Oilman Alfred Jacobsen last March when he was working on a story about Amerada Petroleum Corp.'s successful wildcatting in the Williston Basin (TIME, March 24). Impressed by Jacobsen's candor and executive ability and by Amerada's phenomenal success, Miller later suggested Jacobsen as the cover subject for a story on the oil industry...
During his stay at the oilfields, Miller watched three new wells being brought in. Since none of them was a dry hole, Miller's presence was considered lucky, and C. E. Boone, Amerada vice president, asked him to light the gas flare on the third well...
...lose. But he wins far oftener than he loses. He wins because he hunts oil in the ground with the same passion and dedication that inspired Captain Ahab, an oil hunter of another day, in his pursuit of Moby Dick. By so dedicating himself, Alfred Jacobsen has made his Amerada Petroleum Corp. the most famed independent oil hunter in the oil industry. Amerada, at 185, is the seventh highest priced common stock on the New York Stock Exchange. Of all the 1,526 listed stocks, Amerada is the No. 1 favorite of the investment trusts...
...Gold-Dust Bowl. In that province last week, above the ocean flatness of North Dakota's wheat and cattle plains, flaming gas flares from 69 Amerada wells stabbed the night sky. The land that had been a dust bowl only 20 years ago was now an El Dorado to many farmers who had been on relief or working for WPA. Overnight, they had become wealthy. Last week the big opportunity had come for Farmer Lewis M. Osborn...
...bbls. a day). International Petroleum, a Canadian subsidiary of Standard Oil (N.J.) which operates Talara, is a major Sechura bidder. Other foreign applicants: Peruvian Gulf, a subsidiary of Gulf Oil Corp.; Richmond Petroleum, subsidiary of Standard Oil Co. of California; Conorada, jointly owned by Continental Oil, Ohio Oil and Amerada Petroleum Corp., principal wildcatter in North Dakota's new and gushing Williston Basin. All of these except Peruvian Gulf have asked for both exploration and exploitation concessions, indicating that they think the oil is there and are ready to lay out considerable sums right away...