Word: stanolind
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Dates: during 1940-1949
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...Ohio Oil, the big U.S. oil companies swarmed over Polecat Bench. Last August Phillips Petroleum and Standard of Indiana's Stanolind paid the U.S. Government $1.407,500 for drilling rights on 262½acres of Federal land in Elk Basin-the highest price ever bid for the privilege of putting a drill bit into the ground. Last month Carter Oil, subsidiary of Standard Oil of New Jersey, bought out Denver's Minnelusa Oil Corp., the original discoverer of the Tensleep sands...
...lack of adequate pipelines. The lines were approved by WPB, but frantically opposed by local truckers. Last week Oil Czar Ickes stepped into the fracas, recommended immediate construction of two new pipelines (one to Billings and Laurel refineries in Montana, the other to connect with Stanolind's big line to Salt Lake). When the new lines are pushed through next year, Nettie's homestead will really begin...
...Harrison (Harrison Oil Co.) traded his troubles and his company to the Mag nolia Petroleum Co. for $28,000,000; E. J. Fair and Roy River sold a chunk of their holdings to the Stanolind Oil & Gas Co.; American Liberty Oil Co. sold 25 wells for $1,113,000; Broderick & Calvert sold their West Texas holdings to Phillips Petroleum and Sun Ray Oil for $4,500,000; Buffalo Oil sold Gulf a half interest in north Texas wells for $1,000,000. The list is long-and in an oil short world-depressing...
...flyer in World War I. Fitted for the risky business of wildcatting, he formed his Shasta Co. in 1925. For 17 years he was glad to take the long odds. But last month he decided he could not buck the new war regulations. He sold Shasta Co. to Stanolind for $750,000. Said he bluntly: "The present trend of bureaucratic control will result in the elimination of the independent operator. A price increase would definitely help the independent operator carry...