Word: richfield
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Dates: during 1960-1969
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This grim possibility could be avoided. Some of the oil companies, even before leasing their rights, went to costly lengths to respect the land. Instead of using trucks to transport equipment, for example, Atlantic Richfield Co. lifted rigs over the fragile country with giant Sikorsky Skycrane helicopters. For its part, the Federal Government says it will enforce water-quality standards in the area. Because it owns vast amounts of the North Slope as yet unopened to oil exploration, the Government is in a position to insist upon whatever guidelines it can devise to control development and minimize damage...
Steam Screen. The great Alaska oil rush has been building momentum ever since January 1968, when an Atlantic Richfield Co. drilling crew struck pay dirt 8,700 feet below the tundra at Prudhoe Bay, on the Arctic Coast. Since then, 22 drilling rigs have been brought in, and their crews have sought to duplicate that feat, often working in minus 65° weather and braving 100-m.p.h. winds. The land that they explored was open range until last week's sale of leases, and maintaining secrecy was as important as keeping warm. Companies hired helicopters to spy on competitors...
...Humble Oil & Refining Co., Atlantic Richfield and British Petroleum, the Manhattan's voyage is a rather costly gamble. The companies have spent nearly $40 million readying the ship and crew, and the stakes are even higher. What could be the country's largest oil reserves have been discovered under the snows of the remote North Slope, but the distance and weather conditions raise drilling costs to double those for bringing oil out of the ground in the U.S. In order to sell the Alaska oil at competitive prices, Humble and its partners must find an economical...
...their part, oilmen maintain that they would not have risked North Slope drilling without the depletion allowance, and claim that the allowance is necessary to spur further development. Despite the likelihood of a cut in the allowance, however, the managers of Atlantic-Richfield, British Petroleum and Jersey Standard believe that the find will be so profitable that they plan to invest $900 million in an 800-mile pipeline. It will bring the oil to the ice-free port of Valdez, Alaska. In order to expand its marketing of Alaskan oil, British Petroleum last week announced its intention of merging with...
...Atlantic Richfield...