Word: drills
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...ocean. Just as it lured Arab traders and Dutch colonialists in centuries past, Indonesia today entices Western and Japanese businessmen interested in a financial killing. The sight of safari-suited foreigners sitting by the pools of Jakarta's luxury hotels, drinking Bintang beer and talking about pipelines, drill sites and tax laws, is testimony to the seductive pull of Indonesia's untapped natural resources...
Where are the finds of the future? The list of places to look is long, but expectations are limited. Almost no oil geologist expects that a drill bit will some day chew into another Kuwait or Spindletop. Only in the Soviet Union, China and the Middle East are there untapped onshore areas that bear the geologic marks of major potential reserves, and even new strikes in the Middle East are expected to be less sensational than the discoveries of earlier drillings...
Holding Hope. For the U.S., by far the most promising areas are far offshore, in deep, hard-to-drill waters. According to Oil Consultant John D. Moody, fully one-third of the world's undiscovered oil is locked beneath the sea bed. The geological profile of the U.S. Eastern Continental shelf holds hope of rich deposits. Most promising: the Georges Banks, 125 miles east of Cape Cod, and the Baltimore Canyon, 75 miles off the New Jersey shore...
Companies whose earnings were cramped by last winter's gas shortage are pressing plans to prevent recurrences. Steelmaker Allegheny Ludlum, whose first-quarter earnings were cut to less than half of what they were last year, is going further than most. It has begun to drill its own gas wells in Ohio and Pennsylvania, build stockpiles of oil, and redesign furnaces so that they can be easily switched from gas to oil, propane and even tar. Says Chief Executive Robert J. Buckley: "We are working vigorously to have far greater capability next year and in the long-term future...
...almost entirely on the oil and gas companies for estimates of reserves, must contend with wildly varying figures, some of them just high-grade guesses. The problem is a serious obstacle to policymaking. For example, the U.S. Geological Survey-working from raw oil-company data and lacking funds to drill sufficient test holes-estimates that undiscovered resources of natural gas lying under water on the outer continental shelf may be as high as 655 trillion cu. ft., which at current consumption rates for gas would meet U.S. needs for more than 30 years. But then again, says USGS, the resources...