Word: oilfields
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...earliest and biggest diversifiers was Glidden Co., from paints into such products as sex hormones and oleomargarine. Locomotive-building H. K. Porter Co., convinced that the locomotive market was running out of steam, bought up 15 companies in eleven years, now makes steel, industrial rubber and oilfield equipment. Its sales have soared from $8 million to $64 million...
...hard-muscled oil industry is both helped and bedeviled by lowly bacteria. To begin with, the oil itself was originally formed by bacteria out of organic remains sinking to the bottom of shallow seas. Bacteria still live in oil sands deep underground; many kinds of petroleum and oilfield brine are alive with them. One species lives only on the tops of salt domes, the telltale indicators of oil deposits, 1,500 ft. below the surface...
...industry believes that permanent platforms (probably of the jacket type but set up by much larger and more stable barges) will always be used for permanent offshore oilfield structures. But drilling in up to at least 200 feet of water will probably be done from mobile platforms. When the well is finished, the platform will sail away, leaving only a few piles to protect the top of the well casing...
...over many of his properties to his sons, that does not mean he is retiring from combat: "I guess you could say that I am starting all over again." Could it be uranium? Murchison's face lights up at the word; he has already equipped some of his oilfield crews with detecting devices, just in case. Murchison has no doubts about which of his many deals gives him the most pleasure. Says he: "The next...
AMERADA brought in a well near Williston, N.D., which oilmen believe has tapped a new oilfield in the rich Williston Basin...