Word: gulf
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Dates: during 1950-1959
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...Nebraska-born, Stoddard joined U.P. as a $30-a-month station helper 36 years ago, has been with U.P. ever since, except for stints in both wars. A colonel in World War II, he served as adviser to the Iranian National Railway, which helped carry supplies from the Persian Gulf to Russia. In his 3½ years as U.P. president, the board has let him run things pretty much...
...itself will build a 15,000-bbl-a-day refinery. Amerada will have to put up a multimillion-dollar plant to take natural gasoline out of the gas now being "flared" (i.e., burned) at the well. Enthusiastic businessmen predict that a prairie empire of chemicals and synthetics, rivaling the Gulf Coast's, will rise from these new sources of raw materials. So far, lack of transportation has held the flow of oil to a mere trickle, only 10,000 bbls. a day. But Jacobsen estimates that its productive capacity will reach 100,000 bbls. a day within five years...
...market at $26 a share.* Amerada went into Texas and found oil from the start. With their growing geophysical skill, Jacobsen and De Golyer were so confident of finding oil that when Louisiana Land & Exploration asked them to "shoot" (i.e., prospect) its holdings along the Louisiana Gulf Coast, they took the job for cost, took stock and mortgage bonds in the company as Amerada's profit. Soon after, Amerada bought $95,000 of Louisiana Land stock. They found so much oil that Amerada's $95,000 investment is now worth $11 million, and has paid...
Almost all the applications are for areas in the Sechura desert, just south of the long-established north coast field at Talara (output: 33,000 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...
...King held Admirals Halsey and Kinkaid both at fault in the Battle for Leyte Gulf-Halsey for letting himself be drawn off base by a Japanese decoy force, Kinkaid for not making dawn air searches...