Word: cued
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Dates: during 1950-1959
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...share for its 1,361,541 outstanding shares. Atlantic Refining Co., 13th largest U.S. oil company, will take over all Houston's gas and oil properties (leases on 696,638 acres of oil lands), a daily output of 17.000 bbls. of oil, another 450 million cu. ft. of natural gas, plus the Houston Pipe Line Co., which feeds natural gas into Gulf cities through a 715-mile pipeline. TIME Inc. owns 11% of Houston Oil's stock and is joint owner with Houston of the East Texas Pulp and Paper Co. TIME is negotiating...
...Paso needs more gas. It already sells, on peak days, more than 2 billion cu. ft. of gas (of which it produces 200 million itself), in markets that, says Kayser, are "sopping it up like a blotter." In total assets in 1954, El Paso ranked second among gas-pipeline companies to Tennessee Gas Transmission Co. Kayser himself, in the eyes of many gas men, ranks second to none. Says a Pacific Northwest man: "If this industry, spread out the way it is and always fighting within itself, can look on any one man as its spokesman, Mr. Kayser...
...postwar years to divide up the rich Eastern market, El Paso poked a line westward and ended up with most of California to itself. The huge Pacific Gas & Electric Co., which until 1950 had used only California natural gas, now gets two-thirds of its gas (1.4 billion cu. ft. a day) from El Paso...
...Paso now owns some 5 trillion cu...
...reserves. Its gas sales are up from some 5.4 billion cu. ft. in 1930 to 645.4 billion last year; its net income has climbed from $282,500 to more than $12.3 million. It has made itself ready for expansion by drilling and then capping gas wells all over the Southeast. Yet not even this is enough for quick-thinking Kayser; things seldom move fast enough for him. "Sometimes," he once confided to a friend in a quiet moment, "I go over and take a trip through Carlsbad Caverns and think. 'This wasn't built...