Word: jacobsen
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Miller first met Oilman Alfred Jacobsen last March when he was working on a story about Amerada Petroleum Corp.'s successful wildcatting in the Williston Basin (TIME, March 24). Impressed by Jacobsen's candor and executive ability and by Amerada's phenomenal success, Miller later suggested Jacobsen as the cover subject for a story on the oil industry...
...great gamble of oil, one of the world's biggest winners is a chance-taker named Alfred Jacobsen. His rule for success is simple: "If you don't want to take risks, you can't make money. If you haven't the courage to lose, stay...
...Jacobsen, a tall (6 ft. 1 in.), spare man with a lined, ascetic face, bright brown eyes and explosive energy, has the courage to take big risks, and when necessary, the courage to lose. But he wins far oftener than he loses. He wins because he hunts oil in the ground with the same passion and dedication that inspired Captain Ahab, an oil hunter of another day, in his pursuit of Moby Dick. By so dedicating himself, Alfred Jacobsen has made his Amerada Petroleum Corp. the most famed independent oil hunter in the oil industry. Amerada...
Last week Hunter Jacobsen was busy, as usual, indulging his passion. In Oklahoma, he was drilling four wells; in California, three; in Louisiana, one; in New Mexico, nine; and in Canada, four. He was busiest of all in North Dakota. There, he was drilling 20 wells. For in North Dakota's Williston Basin, Jacobsen has made his biggest strike. He has found many a new oilfield in the past. But in North Dakota he found something far bigger. Says he: "The Williston Basin is not just one oilfield. It is an oil province...
Amerada drilled a wildcat well 10,278 ft. deep, 50 miles east of the town of Grande Prairie. The drillers found only water, but discovery of the reef itself gave Jacobsen's geophysicists the clues they needed. They believed that by moving three-quarters of a mile away they could hit the reef again at a higher point. Last week they did. At 9,000 ft. they finally struck a heavy flow of good crude. It was the first major producing well in the region. ''Amerada has found something that has us all sitting up and taking...