Word: gushers
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Dates: during 1980-1989
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...right to explore for oil on a single 5,700-acre offshore tract in the Santa Maria basin off Point Arguello, Calif. Now that money looks like the down payment on a bonanza. Last month Phillips and Chevron announced that a test well had brought in a gusher, and expectations were heightened by several other successful drillings near by. Then last week Texaco confirmed the existence of a major oilfield by announcing crude flows from an 8,500-ft. well. Experts now say that the Santa Maria basin could be the biggest single find in the U.S. since 1968, when...
...regional pride has been wounded and our heating bills have soared higher than a Texas oil gusher. Now that other states' aquifers have been sucked almost dry, they look to our Great Lakes for water.Never, I say! Let them eat their desert sand and drink their petroleum reserves...
...most stunning drop in profits was suffered by the big oil companies. Only two years ago, when petroleum prices were spiraling, the oil giants posted quarterly profit gains of 100% or more Now that the recession and the worldwide oil glut have caused prices to start falling the gusher of petroprofits is over, at least temporarily. Exxon's first-quarter earnings dipped 23%, Mobil's were down 49% and Standard of California's dropped a sharp...
...first class." But in recent years this sprawling, state-chartered institution, with 48,000 students, 2,100 faculty and 6,300 courses, has been playing a kind of academic catch-up game-raiding superstar talent from the faculties of such schools as Harvard and Princeton. Its weapon: a gusher of endowment money, fueled by oil wells on 2 million acres of West Texas land donated by the state in 1883. Says U.T. Vice President William Livingston: "All the money in the world won't create a great university. But you can't create a great university without...
...success in tracking down uptapped pockets of the precious fuel. In 1978 the Columbia Gas Transmission Corp. struck gas in Mineral County, W. Va., with a well that gushed 10 million cu. ft. of the fuel per day. A year later, the company tapped into a second natural gas gusher producing 8.8 million cu. ft. daily. Such start-up production levels are comparable to major wells in gas-rich Louisiana and Oklahoma...