Word: richfield
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Dates: during 1950-1959
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BIGGEST ALASKAN OIL WELL was brought in by Standard Oil Co. (Calif.) on Kenai Peninsula, 40 miles south of Anchorage. New well, largest of four being jointly developed by Standard and Richfield Oil Corp., has capacity of 1,300 bbl. daily...
...area to stake millions on electronically corroborated hunches that underneath the permafrost lies one of the world's greatest oil pools. The rush has even pushed into the remote Arctic Archipelago, where at least ten companies have asked for exploration permits. Companies with household names such as Richfield are planning to explore places with exotic names such as Graham Island. And the northern halves of British Columbia and Alberta, though far south of last week's discovery site, have in the last year produced big gas wells that make the whole region one of the world...
...world's oil reserves may soon be doubled. The geological proving ground is the 30,000 sq. mi. of tar sands underlying northern Alberta and Saskatchewan in the vicinity of Lake Athabaska. The company that thinks it can turn the trick is California's Richfield Oil Corp., which last week formally asked permission of the Canadian government to set off a nuclear charge just under the Athabaska sands...
...Richfield's big atomic bet is based on a chemical peculiarity: the molecular structure of Athabaska oil is such that, once thinned by heat, it flows indefinitely, whereas many heavy crudes thicken again in cooling. The spot picked by Richfield for its experiment has rich tar sand down to a depth of 1,000 ft. Then the underlying rock begins. If the A-bomb experiment works, the first small-scale (two-kiloton) detonation will be set off in the rock strata 1,200 ft. below the ground. Engineers expect that the bomb will create a huge cavity, and heat...
...ALASKAN OIL WELL, most important since Richfield Oil Corp.'s first discovery well on Kenai Peninsula near Anchorage (TIME, Aug. 5, 1957), was brought in by Standard Oil (Calif.) and Richfield, shows capacity...