The Facts from Clute, Texas • Page 8

8A THE BRAZOSPORT FACTS Sunday, January 7,1996 BUSINESS ON TARGET: Target Lake Jackson recently presented the Texas Archaeological Society with a grant for $1,000. This contribution will assist in encouraging the study of archaeology and the publication of the results of archaeological research. Specifically, the Archaeological Society will produce a three-volume educational series dealing with the preservation of our vanishing cultural resources. If offered, workers will take 40IK By Joyce M. Rosenberg Associated Press Companies that offer 401(k) retirement savings plans generally make them available to a cross-section of their employees, linds Hewitt Associates, a benefits consulting firm.

In a survey, Hewitt found that 84 percent of companies that have 401(k) plans offer them not only to salaried workers, but to other employee groups, such as nonunion hourly staffers. Hewitt found employees tend to use the plans when they're available 75 percent of eligible workers participate. Eighty-eight percent of the companies match employee contributions to the plans. FINANCIAL AID FOR COLLEGE Computer Search finds FAFC you qualify for, guaranteed! DOver sources searched grades 13 up. JHigh School Seniors as well as Graduate and Post Graduates levels should apply NOW! QGrades and income not critical to successfully obtaining Financial Aid.

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Most people demonstrate considerable improvement after 2 sessions. To schedule a consultation, please call THOMAS LUNSFORD, M.D. 2I5 Oak Drive South, Lake Jackson 299-1520 Gulf of Mexico has sudden revival in oil NEW ORLEANS (AP) Just a couple of years ago, oil service company executives had a new nickname for the Gulf of Mexico: the "Dead Sea." How times have changed in just a short while. Because of low oil and natural gas prices, operational costs were high and discoveries seemed to be falling off. But its resurgence has occurred in only a few months, and analysts say the prospects for 1996 seem bright.

The Gulf is now "the place to be." said Matthew Simmons, president of Simmons a Houston investment banking firm serving the petroleum industry. In October, oil companies were saying they planned to cut back gas drilling in the Gulf next year, according to an Arthur Andersen survey. But their mood changed as natural gas prices jumped to their highest levels in more than six years and oil prices have firmed above $19 a barrel. The price runup also coincided with a shortage of drilling rigs for work in water deeper than 1,000 feet. Pushing the shortage is greater demand and the removal of older rigs from service, said Paul Kelly, a vice president of drilling contractors Rowan Cos.

in Houston. Leasing prices for deepwater drilling rigs have doubled over a year ago and companies are willing to commit to leases for up to three years. A semisubmersible rig used to drill in water depths to 1,000 feet is contracted at a day rate of $50,000 to $68,000, up from $30,000 to $42,000 in January, according to Salomon Brothers research. In the past two months, the rates for work boats have also risen to as much as $4,000 a day from $3,300 to $3,600, said Geoff Kieburtz, a Salomon Brothers analyst in New York. The push into the deep Gulf is being led by major oil compa- nies: Exxon, Chevron, Shell, Texaco, Amoco and others.

But smaller independents also are increasing drilling. One is Newfield Exploration, a Houston company. In 1995, Newfield spent $85 million on 33 wells in the Gulf of Mexico, including 16 exploratory test wells and 17 development wells. In 1996, the budget will be well above $100 million, said Joe Foster, Newfield's president. The number of wells drilled will be the same as last year, but the tests will be in water depths of 300 to 500 feet, and will cost more.

Currently, 148 rigs out of 177 are operating in the Gulf, nine more than a year ago, according to Offshore Data Services of Houston. The 29 idle rigs are mostly shallow water jack-up rigs. Texaco will drill four deepwater tests next year, if the company can obtain rigs early enough in the year, said Bruce Applebaum, Texaco's offshore division manager. Its deepest test will be at 7,800 feet. The rig problem is serious.

Texaco is having a drill ship refitted in a Galveston shipyard for a test deeper than 7,000 feet off the Texas coast and has committed to a three-year contract on another deep-water rig. Shell Oil Co. will drill 10 deepwater exploratory tests next year, and a total of 49 wells across the Gulf, up 40 percent from this year and spend an additional $600 million on its program. To date, oil companies have discovered 3.5 billion barrels of oil or an equivalent amount of natural gas in 25 major deepwater fields. This year, the industry leased 175 tracts, up from 54 leased in 1994.

Helping boost activity are technological advances that make drilling and completing wells potentially more profitable, said Arvind Sanger, an energy analyst at Donaldson, Lufkin, Jenretie Securities Corp. in New York. Defensive Driving each Saturday Beginning at Ryan's Steakhouse-iake Jackson Walk Ins Welcome Bay Area DriveSafe C0315-064 1-800-896-5547 SPEED LIMIT One room of your carpet deep cleaned with our new CIRCULAR DRY'FOAM $1495 $49.95 value for ONLY RECOMMENDED BY MAJOR CARPET MANUFACTURERS, WONT VOID FACTORY WARRANTY LIKE SOME CLEANING METHODS. Rated By Consumer Testing Institute Call for an appointment, day and evening times available. 223 B.

Parking Way (409) 297-8811 1-8OO-974-8812 TO ALL INTERESTED PERSONS AND PARTIES PHILLIPS PETROLEUM COMPANY has made application with the Texas Natural Resource Conservation Commission for renewal of Air Quality Permit No. 5689A for a Petroleum Storage Facility in Old Ocean, Brazoria County, Texas. The location of the existing facility is FM 524 at Highway 35. Additional information concerning this application is contained in the public notice section of this newspaper. This notice is to be published on January 6 and January 7,1996.

Shintech to build new Gulf Coast complex By Troy D. Brown The Brazosport Facts HOUSTON Shintech Inc. of Houston, a subsidiary of Shin- Etsu Chemical of Tokyo, recently announced plans for a production complex to be built on the Gulf Coast. Chihiro Kanagawa, president and chief executive officer of Shin-Etsu Chemical, said market growth has allowed the Shintech polyvinyl chloride, or PVC, manufacturing facilities at Freeport to be expanded several stages to a current capacity of 2.8 billion pounds of PVC per year. "We are looking for something along the Gulf Coast," said Richard Mason, Shintech, Inc.

controller. "But there is a fairly strong likelihood that the new location will not be in Freeport." Mason said that Shintech is proud of the site in Freeport as it continues to be the largest PVC plant in the world, but from a risk management standpoint it makes sense to build somewhere else. Therefore, since management believes the Freeport site has reached nearly optimum size, a second location is needed for further expansion of production. The new site's initial annual production capacities will be 990 million metric pounds per year of chlorine, 1.1 billion metric pounds per year of caustic soda, 1.1 billion metric pounds per year of vinyl chloride monomer and 880 million metric pounds per year of polyvinyl chloride. Mason said Shintech should decide on a final site by late spring with construction time taking approximately two years.

The plant's opening should be in the mid-to-latter part of 1998. Shintech has yet to make personnel plans or building size specifications. NEWSMAKER Thurmond Munson Jr. Munson named to board of trustees ANGLETON The Gulf Coast Center is proud to announce the Brazoria County Commissioners Court recent appointment of Thurmond A. Munson Jr.

of Lake Jackson to its Board of Trustees for a term of two years. The Gulf Coast Center is one of 37 community mental health, mental retardation and substance abuse recovery service centers serving individuals and their families in Texas. "The Gulf Coast Center is per- forming extremely valuable services to the citizens of Brazoria and Galveston Counties," said Munson, who obtained a B.S. Degree in Chemical Engineering from Texas in 1953 and is now retired from Dow Chemical. After 15 years of service with time out for college and the Army, Munson is dedicated to increasing his commitment to community service.

He has served on the city of Lake Jackson Charter Review and Planning Commission, as a Boy Scout Cubmaster as well as Cub Pack Chair and Troop Committee Member. His spiritual volunteer work includes serving as the chairperson of the Commission on Evangelism for the First United Methodist Church of which he is an active member. Munson has also served as a loaned executive and allocations panel member for United Way as well as on the Council of Ministries and Administrative Board. Additionally, he is an active member of the Brazosport Computer Club and the Brazosport Toastmasters and has served as former president of the Brazoria County Club and the Munson Family Reunion Association. FREE GIFT with each house purchased Cfiesney's Jetfetry 345-3822 241 E.

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