Word: texaco
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Dates: during 1930-1939
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...swear when they come in sight of what looks like a gigantic harbor buoy sticking up between two scows. A structure they think improper to the high seas, this is no buoy but one of several oil derricks erected in the bay by Texas Co. Called "deep-sea drilling," Texaco's operations are in water no deeper than 25 ft., but geophysical crews mapping off-shore contours often have to take dynamite soundings. The fishermen claim that any fish not killed or scared clean to Cuba by the explosions are certain to be dispersed by oil-polluted water around...
About a year and a half aw this coalition approached Seaboard. formed the exploration companies, gave Seaboard a 51% interest. Mr. Hart then began to palaver in Kabul and Teheran. Biggest stockholder in Seaboard Oil (32%) is Texas Corp. Last week Texaco filed a registration statement with the Securities & Exchange Commission for the issuance of 1,557,000 shares of common stock, to be offered to Texas stockholders at about $40 a share on the basis of one new share for each six held. Market price of Texas common last week was $52. Of the estimated $62,000.000 proceeds from...
...Texaco already is involved in Eastern markets through deals made last year with Standard Oil of California by which Texaco acquired a half interest in Standard's oil fields on Bahrein Island in the Persian Gulf, Arabia and the Dutch East Indies. Standard got outlet for its oil, Texaco a source of supply for its distribution system East of Suez, in East Africa, South Africa, India, Dutch East Indies, Australia, New Zealand, China, Japan. The combination of these two big U. S. companies now looms as the third big petroleum group outside the U. S., inferior only to Royal...
Last week Carib stockholders learned the deal was off, at least for the time being. The undisclosed group who wanted Carib's share of the Barco was, it turned out, in fact acting for Socony and Texaco. Knowing this, little Carib was obviously in a better position to bargain. It was announced that "the parties in interest have taken the matter under consideration." presumably meaning more money for Carib...
...Texaco and Socony were ready to spend the big money that the Barco needs. A pipeline over the mountains to the sea (more than 200 miles) may cost $12,000,000. Little Carib Syndicate found itself sitting in on a game it could not afford to play, for unless it shared development expenses in proportion to its one-fifth interest, that interest would be gradually shaved down to an insignificant figure. At the Barco table on one side was Texaco's Chairman Torkild Rieber with $473,000,-000 in assets beside him, on the other Socony's President...