Word: conoco
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...partners, will sink a second well, to a planned 16,000 ft. Mobil, Exxon and Texaco are pressing ahead with test borings of their own. They recognize that a few disappointments should not cause them to give up the search at sea. So far, only two test wells-the Conoco and Shell dry holes-have been drilled to completion in the Baltimore Canyon. By comparison, at least eleven were sunk into Alaska's North Slope before a good find was made. In the North Sea, it took 50 false starts, and in oil-rich Western Canada the number reached...
Many alumni of the '60s and early '70s think their college experiences have enhanced their effectiveness as managers. Notes Bob Klein, 30, a product manager for Conoco Chemicals in Houston: "I went to college [Clarkson] in the era of the draft, and I had to change my career plans by postponing grad school and taking a job in the oil business that would probably hold off my draft board. Now I think that that taught me how to be a flexible planner...
...takeover of the North Sea oilfields. The companies complain that when the Labor government first granted them concessions in the late 1960s, a takeover was not part of the deal. Worried about all those problems, bankers have been reluctant to grant new loans for North Sea operations, and Amoco, Conoco, Occidental and Phillips Petroleum have lately scaled down drilling additional wells...
Campaign Continental would require Continental Oil to improve conditions in its Appalachian coal mines, where most of the recent great mining disasters have occurred. Because Conoco filed its resolution late, the Securities Exchange Commission does not force it to include the resolution in management's proxy solicitations, so the Campaign is soliciting on its own. It's unlikely that Harvard will support this resolution, since the ACSR, for example, considers solicitations from non-management groups, if at all, only after its other business--in all probability, after Conoco's annual meeting...
Needless Delay. Still, the attitude of Mai pen rai persists, and it is not confined to businessmen. In June, Conoco Oil sank a test well in the Gulf of Siam to see if reports of oil sources there were accurate. A discovery could help revive the Thai economy, but the government's cumbersome bureaucracy barely seems interested. It has delayed interminably in setting regulations for offshore drilling, and other oil companies are unwilling to commit capital without them. As a result, portable oil rigs, which were destined earlier for Thai offshore exploration, have now been moved to other potential...