Image provided by: University of Oregon Libraries; Eugene, OR
About Medford mail tribune. (Medford, Or.) 1909-1989 | View Entire Issue (May 6, 1962)
SUNDAY. MAY 6. 1962 MEDFORD MAIL TRIBUNE, MEDFORD. OREGON IrSiergency, Texas could pro-'taling more 18 billion duce more thaniix times as I barrel. But exploration and Texas Oil Production Limited by Commission By CARLTON WILSON United Prtu International Austin, Texas - OIPD - The first great oil gusher In Tex as created a sensation that has repercussions today tor ev eryone who uses an automo bile or heats his home with oil or gas. Although oil flowed from Texas wells since 1859, the greatest single impetus to the state industry came at Spin dletop Jan. 10, 1901. mere, near Beaumont on the Gulf Coast, the first salt dome discovery made by Capt. Antnony F. Lucas. It aunch. ed a campaign of drilling that increased slate oil produc tlon from 838.039 barrels in 1900 to 4,393,658 in 190? and 892 million In 1981.. In 1902 the Spindletop well alone produced 17,421,000 barrels, or 94 per cent of the state's production. Prices dropped to three cents a bar rel, an all-time low. The search for oil and gas continued until Its peak year of 1958,. when some 21,500 wells were drilled by a bil lion dollar industry. High costs, disappointing results and relatively low oil prices , have led to a decline in drill ing since then. Nevertheless, about a third of the wells drilled in the United States during 1960 were In Texas. There have been some 470,000 holes punched down into Texas soil seeking oil in the last 94 years. The deepest of these went down 25,340 feet in 1958 - and yielded nothing. The deepest Texas produc er is a gas well at 16,680 feet - more than three miles into the ground. Since Spindletop's fabulous find, only about one out of 60 wells has discovered enough oil or gas to be profit able. The average cost of an oil well is about $47,600, the Texas Mid-Continent Oil & Gas association rep.O.s. Gas Wells, which are gen erally deeper, cost on the av erage $112,000 plus. The cost may run as high as $1 million for a gas well drilled in the Gulf of Mexico, at about $88 a foot compared to a per-foot cost of around $11.40 for an inland oil well. Natural gas is produced in Texas by about 18,500 gas wells and about 121,000 wells, for there is some gas in every oil field. About six trillion cu bic feet of gas was marked from Texas wells in 1960 and reserves in the state total about 119.5 trillion cubic feet, or about 48 per cent of the U. S. reserves. "Wildcat" vqUs drilled in untried territory or umOplor ed depth discover new fields and producing formations. About 3.166 of these were drilled O Texas in 1960, but more than 90 per cent were dry holes. Few of the wells that do produce oil are financial suc cesses. Another 12,415 Texas wells were drilled in 1960 to de velop oil and gas fields which already had been discovered. In all, some 66 million feet of hole (15.581 wells) were drilled in Texas that year -enough to reach through the earth one and a half times. The results of all this ex ploration is a present total of more than 200.000 oil wells in Texas that produced $2.8 billion worth of crude oil last 0ear. xviucn oi inu, cruae on is processed into automobile and aviation gasoline at the 59 re fineries in Texas. A large por tion depending on the qual ity of the crude, goes for ker osene, other fuel oils and lu bricants. The amount of Texas oil production is limited by the three-member state railroad commission to conserve the resource, keep supply and de mand in balance and stabilize the market - whih now finds oil selling for $3 a barrel. POduction was held to eight days during eight months of 1961, nine days for three months, and one month of 10-day production. Total 1961 production of 101 days was an all time low and compared to a record 366 days during 1048, a leap year. . Olf commissi controls did not exist, Texas well operated at maximum efficient rates could produce an estimated 4.7 million barrels daily, sorr' ni: much oil as last year. I development have uncovered The supply of Texas oil ' oil shurces during the last will last about 20 years atjW years at a rate of more the present rate of produc- than one billion barrels a 2.4 million barrels a day more tion, based on industry esti- year, faster than oil Is now than present production. In an I mates of known reserves to-1 being produced. Featherweight ; SIMULATED PEARLS by Paul Morris t-n Vuu Feihioned and itylcd to look like cultured pearli. All necklacei are hand-knotted and have attractivo clasps. 1 Pw ll.l(.,m Kl.rl.llr. SO). 2 and 3 Row Uniform Necklace . 1.00 1 Row Matinoe 1.00 2 and 3 Row Matinee 2.00 Assorted Style Earrings 59c j CHARGE IT! JUMBO-SIZE Smart Contour-Top TYPEWRITER TABLE Tough Baked-On Finit MultiPurpoio. Holds I Smooth-Rolling Cetfe Strongly Bra cad CHAROE ITI N r ft .Mill -3U 'IUI 1 CALORY, CHOLESTEROL - LEVEL WATCHERS! Here is the) revolutionary new Silicon treated Fry Pan that Guarantees Fallen Frying! S 10" FATLESS FRY PAN oa - Ut net on dfp ml ell. bvlttf r 1 V i&ft itSotttning! Feed do not Hick, end Vdlutf M WH th pan limply wiptt clton. Guufon C I food I. pcrformi life. "" " &j diem aJ1 ft Polaroid 1 Electric Eye 1 camera tor Less Than W POLAROID LAND CAMERA Pi 11 n FULLY AUTOMATIC t SIMPLEST LAND CAMERA V EVER S NO FOCUSING, ' NOTHING TO SET Polaroid Land Film Gives You 10-Second Pictures "ft A 3 Polaroid l& by Polaroid Corp, mwmm If You Can Aim This Camera You've Got it Made! A "Ml JU1MNNA" MIDAl PAIR . trllllt Salitalr tlif. fiat 4 lltjej fjiomondi. MotthUi U Karal Solid1 OI0 Diowond lend. lASIT TE1MS ii WEISFIELD'S PERFECT MOTHER'S DAY GIFT $f iijiwii 3 y iHOCKPioof S& J.OIAMOND p UOY S WA1CM K 1 - 2475J Attfocl'v miol eon M lion bond end tOty-l Cvi m (Md dial f IASV TltMl KBETTINA" HAT BOX So . DRIES HAIR FAST WITH 4 ADJUSTABLE HEATS Quia Uttr Can Phont or Watch TV Hood Fiti Evan Extra Larga "Bouffanlairo' Tht Largait Rollari Handioma Hat Box Ineludai Largo Mirror and Room for Curltrt and Baauty Aidt Dryar Remain in Ottriek Grain Cat or Lifts Out Guaranteed 2 Years HAIR DRYER Reg. 29.95 88 4 COMPUTE WITH OSTRICH GRAIN HAT BOX CASE LOW IASY TERMS . . . ONLY $3.00 A MONTH -&s j . V!' n ings I y "MISS 7UIIP irtr BRIDAL MH BOTH RINGS laraa lalitdir in mtu od 1 K ejald la'tiitg. MaiikH Id - bond. I MY Timi "Si 3 SATHIIIf II" IADYS QQ50 MAN'S 50 A laifl IrlgdJ Dra-ed Ml In cork HootCAir U-Kooi Geld Mounti!. T It r&tj I '-ass. i 7Bmwm A I yjj :'r J ' irTTT. U&R Fvt l '; - T " tmles:svice. Order by Phone Monday SP 3-5348 STOE HOUS: 9:30 A.M. to 5:30 P.M. OWN MONBAYS UNTIL 9 P.M. I Wicili-ld'l. 122 t. Main. Medford, Oie. Imitate tand m tht Il4.p:tct Gldan Roia OiflntrWjra" Tnttiraa I clydi-9 my FREE K-DC. Sainln Tb!t Sarvica all lor o' $14 77 w I NOTHING DOWN en tarmt of onlv II ptt waak (or S5t a ejajgi I NUI I ADDRESS I 122 East Main St, ?wnt$wrPMedford Phone SP 3-5348 HOWE RHONE. CITY , EOHOYED IY EMPLOYER'S AC5H 0 ii " w. ". ejta .,rk a Irhata UrtQ ittra M't kirt IrCM la afl hi v-"r-a ifl ,M l2 Mae" taeraal
