Word: kerrs
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...When you pull yourself up by your bootstraps," says Dean McGee, president of Oklahoma's Kerr-McGee Oil Industries, Inc., "it's like a flower opening up-slowly at first, and then it finally spreads out." A small independent, Kerr-McGee spent 20 years pulling itself up to a $15 million annual business. Then, in the past five years, it trebled in size. Last week, Kerr-McGee spread itself still wider. It put together a combine with uranium ore reserves estimated at some 5,000,000 tons on the Colorado Plateau (total U.S. reserves: 30 million tons), worth...
Reserves & Rawhide. Uranium is nothing new to Kermac, whose founder and board chairman is Oklahoma's Oilman-Senator Robert S. Kerr. As far back as 1951, the company was the first oil producer to decide that uranium, instead of being competitive with oil, was a supplemental and profitable field. In 1952, with $700,000, Kermac bought New Mexico's small Navajo Uranium Co., built a mill at Shiprock, N. Mex., did so well that it has expanded operations to a total of $3.3 million. By spending $100,000 a month for more exploration, it uncovered sizable reserves near...
...President McGee, 52, a tall, rawhide-tough wildcatter aad geologist (University of Kansas, '26) who first went to work for Phillips Petroleum, was its chief geologist by the time he was 30. McGee did so well that when he left the company to hook up with Oilman Bob Kerr in 1937 Phillips hated to let him go, in 1943 agreed to an unusual deal to keep a string on his talents. It promised to underwrite 75% of the company's drilling costs in return for only a 50-50 share in the oil profits...
Phillips knew what it was doing. With plenty of cash McGee soon had a string of wells in the rich-paying Gulf Coast zone in Louisiana. Then Kerr-McGee started operating on its own in an area where few oilmen had yet ventured: the Louisiana tidelands. Says McGee: "It looked better to us than staying on land, where the first-class spots were already leased and drilled. Some said it took courage. Others just said we were foolish...
...King and I. A lavish and bouncy musical version of the Rodgers and Hammerstein Broadway hit, expertly played by Yul Brynner and Deborah Kerr (TIME, July...