Word: oilmen
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...since 1911 by the Donnell family, who were among the original backers. Geologist Donnell (Princeton '32, Phi Beta Kappa) set about to increase the company's scope by stretching into the refining and marketing ends of the business and doubling exploration outlays. As bigger and more experienced oilmen looked on smugly, Donnell fell on his face. For a frustrating decade, Ohio drilled one dry hole after another from Guatemala to Egypt...
...energy market. Across the Continent, the new gas finds are lighting an investment fever and bringing some chills to a vulnerable competitor, coal. As estimates grow of the size of The Netherlands' mammoth Groningen gas field (widely regarded as twice the official 1.1 trillion cubic meters), and as oilmen probe the bottom of the North Sea for what may be even larger deposits-one big one was hit last week off the West German island of Borkum-gas is becoming Europe's new glamor fuel...
Last week oilmen jammed into the Long Beach city council chambers to bid for the right to tap the pool. So desperate are West Coast oil companies for local crude that the bids, which were expected to offer 90% of net profits as royalty, averaged out to 96.25% on the six sections of the field. Over the next 35 years Long Beach and California will slice up $1.4 billion...
...Kiel are turning out drilling platforms to overcome a worldwide short age. All this activity is a result of the mammoth pocket of gas that was discovered in 1959 by Esso and Shell in the coastal Dutch province of Groningen near the German border. Seismic tests have since convinced oilmen that the North Sea may contain the world's biggest bubble of natural gas. Though drilling has so far yielded nothing further off the Dutch coast and only inconclusive results in German waters, the scramble to find the undersea riches now involves at least 85 companies...
...exploration will come off the British coast. In the past seven months, Britain has not only claimed mineral rights beneath half the North Sea under a 1958 convention unratified by Holland or Germany, but has also swiftly licensed 22 consortiums to explore 34,000 sq. mi. of that domain. Oilmen plan to spend some $225 million on the exploration over the next six years...