Word: petroleum
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Dates: during 1950-1959
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...southern sweep of the big semicircle centered on Maracaibo, Peru was redoubling an oil search in its eastern jungles; Texas Petroleum Co. last week reached the 10,700-ft. level in its third test well on the Marañón River. Peru put particularly heavy hopes on the prospects in the trans-Andean jungle. Only last month the government sadly announced that not a drop of oil had been found in four years of drilling the once-promising Sechura Desert on the Pacific Coast. Though still a producer (from the waning field at Talara), Peru will have to import...
...Demanded, in the face of two previous turndowns, that Syria cooperate to allow repair of the Iraq Petroleum Co.'s pipeline cut by saboteurs during the Egyptian hostilities. Declared Under Secretary of State Herbert Hoover Jr.: "Unless work begins immediately . . . the oil situation will be aggravated, which means in human terms cold and hunger not only in Europe but in Asia and South America...
...they called him) was-with all his $30 million-a different kind of millionaire. Born in a sod hut in Kansas, he became a world-famed geologist, helped found the famed oil-hunting Amerada Petroleum Corp., amassing his millions along the way. Seeking still greater independence, he left Amerada and in 1936 founded the consulting firm of DeGolyer & McNaughton, soon made a new name for himself as a man of integrity and accuracy in the infinitely painstaking business of oil exploration. His uncanny, top-of-the-head appraisal of oil property came to be accepted in Texas as the last...
...bookie hired Christie, Mitchell and Mitchell, Houston oil operators, to check on the deal. They liked it so much that they bought out the bookie, capitalized the operation for $10 million, put up mostly by C.M. & M., Waterford Oil Co., Riddell Petroleum Corp. and Houston C Financier Bob Smith (TIME, May 2 1954), guaranteed Jackson and Miles 5% of the new venture's gross. In two years Jackson and Miles leased 285,000 acres in the Wise County area, brought in 110 gas wells and 57 oil wells. They had a spectacular average of ten productive wells for every...
...discovery, made in 1953, caused little stir until a fortnight ago when Lindley's publicity-wise Shell Petroleum distributor got the press interested. Reporters and scholars flocked to the site. Sir Albert Richardson, president of the Royal Academy, traveled down to view the discovery, enthusiastically pronounced the paintings "unique." Said Egmont Lind, art restorer of Denmark's National Museum: "They are the only early wall paintings I have seen in England that have not been touched, apart from the deliberate disfigurement since the day they were painted...