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November - Then and Now

November 1953 U.S. Government officials announce plans to build the world’s first nuclear power plant at an estimated cost of $80,000,000. The Federal Power Commission announces that natural gas became a $2,000,000,000 industry in 1952. The eldest son of the last absolute monarch in the world, Crown Prince Emir Saud, ascends to the throne of Saudi Arabia upon the death of his father, King Ibn Saud. Drilling commences on what may be the most exclusive lease location in the U.S., as the Universal Consolidated Oil Co. spuds a well using its "completely soundproofed" drilling rig on the studio lot of Twentieth Century-Fox on the outskirts of Beverly Hills, California. East Texas crude oil - $2.90 per bbl; U.S. – 2,799 rigs running November 1978 A Swiss banking report states that within 10 years the Mexican peso will be on a …

Then and Now

September 1953 What is reported to be the first large-scale private search for oil in Alaska is begun with the dispatching to Alaska of a WW II surplus LST loaded with 1,500 to 2,000 tons of drilling equipment, drill pipe, logging equipment, and road-building equipment. The equipment will be employed in an exploratory drilling project funded by Phillips and Kerr-McGee. The target is a million-acre lease block along the southeastern Alaskan coast. As the petroleum industry begins to infiltrate the Williston Basin in North Dakota, so do some of the practices and idiosyncrasies of the Texans that have migrated there to do the work. The story is told of a Texas driller perched on a stool in a café in Williston, N.D. who ordered a bowl of chili, only to be told by the waitress that they don’t have any …

Gulf Coast Section Wins Section Membership Contest

Congratulations! On behalf of the SPE Board of Directors, it is an honor for me to inform you that the Gulf Coast Section is a winner in the 2002-2003 SPE Section Membership Contest.