Word: petroleum
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Dates: during 1920-1929
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...situation in regard to naval leases and petroleum reserves...
...time the wells may refill and produce several times the quantity originally furnished. At Houston, Tex., the process was described by Roswell H. Johnson, well-known eugenist and professor of oil and gas production in the University of Pittsburgh, at the annual meeting of the American Association of Petroleum Engineers. The water is let into an old well; it spreads out through the saturated oil sands and shales, driving the oil ahead to other wells. Air and gas have been used for similar purposes. Even after a well has been retapped by this method, oil frequently remains in the finer...
Because of the unusual fluctuations in the price of oil during 1923, the annual reports of the leading petroleum companies have been received with more than ordinary interest. Recently, the report of Standard Oil of Indiana was considered very creditable, all things considered. Net earniings for 1923 were $41,538,499, which is equivalent to $4.68 on its 8,868,266 shares of ;$25 par stock. In 1922, $5.60 a share was earned...
...special counsel for the Government obtained a temporary injunction on the Doheny companies to prevent them from operating their leases. The charges made were much the same as those of the Teapot Dome complaint. Rear Admiral Harry H. Rousseau and J. Crampton Anderson, President of the Pan-American Petroleum Co., were named joint receivers. In order to protect the Government's naval and oil interests as well as the interests of the lessee, the receivers were empowered to carry out the existing contracts, and to drill additional wells, if necessary to protect the Government's oil from drainage...
Between 50,000 and 100,000 claims (totaling $100,000,000) are being prepared against the Mexican govern-ment by American citizens and corporations. Virtually every petroleum company operating in Mexico, every copper, gold and silver mining company, individuals (including ranch owners), business interests, and relatives of persons injured and killed in the course of the last decade of revolution, spoilation and expropriation, are filling in the appropriate blanks distributed by the U. S. State Department. Thus Mexico will soon face a $100,000,000 bill...