Word: driller
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Dates: during 1950-1959
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TEAPOT DOME OIL LANDS in Wyoming, where scandal over Government giveaway of leases blighted Harding Administration in 1920s, will be opened to private drilling. Navy is asking bids for drilling of eight wells, will pay costs plus share of profits to driller and then sell the oil by competitive bidding...
While eager prospectors searched for oil all around the world, beneath the sea and in the mountains, high-living Houston last week took a look under its garbage and found black gold. An independent driller, Trice Production Co., brought in a rich (140 bbls. daily) well from 8,000 ft. below the city dump, and gave it an appropriate label: "Houston City Dump...
...natural gas industry. In one corner was Clint Murchison, the flamboyant Texas oil tycoon (TIME, May 24, 1954) who bosses an empire of companies with assets of about $400 million. Against him was Francis Murray Patrick McMahon, 53, multimillionaire Canadian who began as a $4-a-day driller and rose to be a leading operator in Western Canada's spectacular oil boom. The big stake in the contest between them: a franchise to build a $350 million pipeline to carry Western gas 2,200 miles to the cities of Eastern Canada and the U.S. Midwest...
Good Investments. Born in the British Columbia mining town of Moyie (pop. 225), McMahon started as a hard-rock diamond-driller, drifted to Alberta and formed his own drilling company there before the province's oil play began. He took an option on a promising piece of Alberta land and brought in one of the province's first major oil wells at Leduc in 1947. Since then, he has plowed his oil earnings into a steadily successful search for more oil and gas. His companies now own or control hundreds of wells, hold leases on some...
...driller that cuts the hardest metal-e.g., tungsten carbide-without touching it. Made by Cincinnati Milling Machine Co., the cutting edge is a stream of electrons a sort of manmade lightning. ¶A lathe with a mechanical brain, which computes the correct cutting speed for each job. Its makers, Monarch Machine Tool Co. of Sidney, Ohio, estimate that the brain alone can increase production 25% ¶A Cleveland Tapping Machine Co device that cuts threads on iron pipe fittings at the rate of 85 feet a minute, producing 1,480 fittings an hour, compared to the previous standard...