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...feel of the Williston Basin area, Miller spent several days in North Dakota last month. The first person he met, after checking into the Plainsman Hotel in Williston, was a Texan who said he was "looking over a few farms to pick up a lease or two." When he learned that Miller was with TIME, he said: "You fellows wrote me up once." The Texan, it turned out, was Dallas Insuranceman Robert Baxter, who had made this exultant boast in mid-1948: "This is a great world, and the U.S. is the greatest country in the world-and Texas...

Author: /time Magazine | Title: A Letter From The Publisher, Dec. 1, 1952 | 12/1/1952 | See Source »

...Jacobsen was busy, as usual, indulging his passion. In Oklahoma, he was drilling four wells; in California, three; in Louisiana, one; in New Mexico, nine; and in Canada, four. He was busiest of all in North Dakota. There, he was drilling 20 wells. For in North Dakota's Williston Basin, Jacobsen has made his biggest strike. He has found many a new oilfield in the past. But in North Dakota he found something far bigger. Says he: "The Williston Basin is not just one oilfield. It is an oil province...

Author: /time Magazine | Title: OIL: The Great Hunter | 12/1/1952 | See Source »

...opened. With a great hiss, jets of water and drilling-mud shot out of the hole. For a few minutes there was just the steady hissing of moist gas, smelling like rotten eggs. Then came the oil-a greenish-yellow stream. Amerada had brought in its 70th Williston producer, and Farmer Osborn was on his way to wealth. By year's end Amerada will have 75 producers in the basin, in another year more than...

Author: /time Magazine | Title: OIL: The Great Hunter | 12/1/1952 | See Source »

...independent wildcatters, have rigs towering all over the basin, from 100 miles east of Bismarck to eastern Montana, where Shell Oil and Texaco discovered two rich fields near Richey and Glendive. In this big oil play, there are more than 80 drilling rigs and 120 exploration crews probing the Williston Basin...

Author: /time Magazine | Title: OIL: The Great Hunter | 12/1/1952 | See Source »

...these new sources of raw materials. So far, lack of transportation has held the flow of oil to a mere trickle, only 10,000 bbls. a day. But Jacobsen estimates that its productive capacity will reach 100,000 bbls. a day within five years. The full extent of the Williston Basin's reserves will not be known until thousands of square miles, as yet untouched, are drilled. Estimates of oil in the basin run from 500 million bbls.-and up-compared to reserves of more than 2 billion in the great East Texas field, the richest ever found...

Author: /time Magazine | Title: OIL: The Great Hunter | 12/1/1952 | See Source »

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