Word: gulf
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Dates: during 1950-1959
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SINCLAIR OIL, which wants to increase its oil and gas reserves, is working on a multimillion-dollar deal to buy American Republics Corp. from Torkild ("Cap") Richer, who helped negotiate the Iranian oil settlement (TIME, Feb. 1). Dickering price for American, which has rich reserves in Southwestern and Gulf states: $72 a share (1,500,000 shares outstanding), $4 more than the current market price...
...oilmen gathered at Bethlehem Steel's Beaumont, Texas shipyard last week for the christening of an odd contraption called "Mr. Gus." Built at a cost of $3,500,000, the rig is a monster (4,000 tons) barge for drilling oil wells in the deep water of the Gulf of Mexico. It can operate in 100 ft. of water (v. 40 ft. for most other rigs), will triple the area that can be explored on the continental shelf off Texas and Louisiana. Mr. Gus was bought by (and named for) C. G. ("Gus") Glasscock, 58. a onetime high-wire...
...Interior Department opened sealed bids on some Louisiana offshore oil land last month, a peculiar fact turned up. On one tract, Kerr-McGee Industries, Inc. submitted the only bid-a whopping $4,000,000; on several other tracts it was also completely unopposed by such offshore bidders as Shell, Gulf and Continental Oil. The worried giants hastily rechecked their geologic studies. Did Kerr-McGee, headed by Oklahoma's Democratic Senator Robert S. Kerr and Oilman Dean McGee, have some special information on the land? Not at all. In Washington last week, Kerr-McGee was desperately trying to withdraw...
...command decisions were consistently and uncannily right. If he erred, it was in not pressing his views upon his superiors, Admirals Raymond A. Spruance and William F. Halsey, in the great battles of the Philippine Sea and Leyte Gulf-both occasions when too much of the Japanese fleet got away. In all naval war there has been no bolder or more dramatic decision than Mitscher's, in the Philippine Sea, to violate the hallowed blackout rule and light up the fleet like Coney Island to help homing flyers find their carriers. Characteristically, he took this crushing responsibility with only...
...later (see chart), it had only to look at the figures to see that there was no correlation. If FTC hoped to prove that current far-future prices, i.e., on contracts sold between November 1953 and October 1954, are affected by current spot prices, it would find a widening gulf over the past three months...