Northwest Arkansas Times from Fayetteville, Arkansas on August 7, 1972 · Page 8
Get access to this page with a Free Trial

Northwest Arkansas Times from Fayetteville, Arkansas · Page 8

Publication:
Location:
Fayetteville, Arkansas
Issue Date:
Monday, August 7, 1972
Page:
Page 8
Start Free Trial
Cancel

9 · Ar*m*ai TIMK, Mon., Au». 7, |r*YiTTtVH-H, AKKANSAS : Wjthin The U.S. \ Number 01 Producing Oil Wells Declining i, By MAX B. SKEUON "' AP Oil Writer '' HOUS10N (AP),-vThe number of pioduclng oil wfells In the United States continues lo decline ·' i ' - " ? The nation had 512,471 pio (iucing v.ells\,it the end of '1371, compared with 566,869 live years earllei nnd with Ihe all time high of 617,057 at the end of 1961 , . The decline is a result or a sharp domestic drilling opei aliens slump that has 1 plagued the mdustiy since 1056 The number of new producing wells has fallen far sjiort of depleted and bandoned wells. Domestic opeiatois com plelcd only 27,850 wells l a s t year compared with a recoid 57,160 in 1956 , Cm rent trends Indicate 1,072 opeialions w i l l show some improvement over hie 1971 lc\el, Huge blocks of leases w e r e abandoned us the pi "longed drilling slump gained mpmcn turn. This trend was reversed, however, in 1968 and operators have increased their holdings gradually. k UNDER LEASE At the end of 1971, the domestic industry 'had : 350.7i productive and non-producliye acres under lease,., compared with 324.9 million at the end'of 1967 and with the record .high of 424.2 million acres .at the. en.d. of 1959.' · · · · · · · ' ' ' ". . - · · : · ' · · · The year-end 1971 reports on producing wells and : acreage leases are in the new edition of "The Oil Producing Industry in Your Stale." an annual Jmblica- tibn distributed by the Independent Petroleum Association of America. , The booklet in-, eludes a statistical -history ! 'bf operations for each of .the 32 states .with oil/and gas production. . " · ' . - - . ' . . ' " , · '-...;' , The : rie\v edition ^makes no direct reference to developing oil and gas shortages but reports that, ; despite record demand, the United States has yet to be discovered reserves that are estimated to be more than adequate to satisfy national requirements for the foreseeable future. · '" The '2,222.312 wells drilled since 1859, : Uhe booklet reports, have discovered 143 billion barrels of liquid petroleum reserves arid 667 trillion cubic feet of natural gas reserves, excluding Alaska's North Slope '. ' DEPLETED Production depleted these reserves by the end of 1971 to 27.9 billion barrels of oil and 24V.4 trillion cubic feet of gas, excluding Alaska. Actual 1971 production exceeded 3.2 bi .1.1.1 on barrels of oil; and 22 t r i 11 i o n cubic feet of gas. The -number of -producing wells and the total acreage under lease have declined sharply in Texas since 1959. Texas had 174,207 producing oil wells at ?the end of-1911, compared to 188,821 in 1967 and 190,905 at the end.of 1959.;Texas leases' totaled 42.9 million' 1 -acres, at the end :bf-Jast::'year, compared with 59.5 million in 1967 and 79.1 million in 1959. ; Operations also have declined in Louisiana, runnerup to Texas iis the nation's lop producing stalcA ·. t \ Producing oil wells hi Louisiana totaled.25,750 at year-end 1971, 'compared with 30,946 in 1967 and 26.J09 H\ , 1959. Louisiana^ lenses lotnlcd 7.3 million ncrcs last year, compared with 10.7 million five years earlier and 12.5 million in 1959. The nation-wide reversal of the downward :lrend in lease holdings results from additions of laige non-pioduclive tracts in Michigan and in Rocky Mountain slates the past four years. · . . ' . , · · · UP IN MICHIGAN During lliiil time, Michigan's non-producllvc leases Increased from 2.5 million to 10 million acres. In the western states, Ai^zonn non-productive leases increased from 4.4 to 8 million acres, .Colorado from 20 to 32 : million, Montana from^S.S t o ! 2 9 million. New Mexico from 20 to 24 million, Utah from 13 to 20 million, and Wyoming from 26.7 35.7 million acres. Journalist Diet HOCKPOHT, Mass. (AP) -- Altici't N. Lcnian, Journalist and assistant press secretary lu Iho late President Dwighl 1). Eisenhower, died Friday. Ills career Included Ihe posl of cdl- toi'-iiv.'hlel of McClure's Newspaper Syndicate In New York City. Metzger Dies OXNARD, Calit. (AP) -- Theodore W. Mclxgcr, 76, termer Associated P r e s s war correspondent and ncwspiiper executive; died Friday, after a long Illness, Mclzger served as an AP war correspondent in London during World War II and In 1945 covered Ihe organizational nieelings ot the United Millions in San Francisco. Yacht Prestige Stakes Under Way At Monaco ·..By JOHN VlNOCUtl MONTE CARLO (AI J ) -- Ttib ;oocl slil|) Crali Grass nnd the i,S. Nail Pollsli slni'cd cnch oilier (Iqwn «11 lust week ncvoss the bolllo blue of. tho Monaco bout bnsln. The N n I I Polish broke fh'sl for open wntcr 'and nrobnbly dropped, bait a point or so lii Hie McilUernmeiui yachting world's omuml prestige slakes. The Nnll Polish is Ulltnm II Ihc 257-fcot j'licht of Rcvlot . Cosmetics' president Chnrlos and has Italian marble loilcls Kovlon, IU dvdl Is Lu Belle SI- none, owned by \Vlllhim J. lOvlW,' the mnss liJ!»o builder vho enticed thousnnds ot Amor- .cans into suburbia, Tho only other competitor is ArlsloUo Ommls' yollow-lwlloO Clivlstlmi, but ho steers clour of Mimic Ciirlo sliwo ho foil oiil with Prince Rainier, Nothing else currently at sen and prl- vfttply owned can coinielo foi size nnd luxury, tlic very heart of the gnmc. , AH through August and Sop (ember .tho yachts will -score points 'ii Iho ports where they cross pntlis, their crews lolllii! stories on their owners tint guests. SCORES 1'OIN'IS Along the Monte'Cnrlo qunts La Belle Stmone got points foi expensive newness and''.niton tion to conspicuous detail Launched this year, it cost be twocn $G million nnd $10 million for tht 2(!-man ciow, Tho ynoht nl«o picked up on- loslly points with llio npponr- mco ot tho ship's physlcJnn us clitiultour ot llio boss's car. Tlio doctor Is n younK man who wears a puny-tall, nautical whites and n namcplnlo road [ng Dr. Grconborg. Points were lost toi; a rcporl thai Lii Belle Slmono's officers had lo carry guests' suitcases from the pier -- there shoiih be a baggage boy T- and ai ufler deck [lower iirrnngemcn of while glndloh\s Hint n worn mi critic on shore snid wouU have looked more at home in i tuneral parlor. SIZE Ultima Hi looking consldern bly less modern Hum La Belle Slmone, got clear points only for its size, about 20 feet long or, and the matched pair o five-fool-tall Okihawan sailor tiiiullng twin H»»rd In moil* Ki'nmmort whllo and Wuo at Ilia cot of Iho OHCO yon can nttord th« Inl- Will Invonlmonl lo got In Ilia Vlodllorrnnonn Wg Iciiguo, horc lire cconumlos. LcvlU's Mil for 10 days "f «"· In tho Monto Carlo basin wan l,:tOO francs, or about $270 ilollni'H, n frncllon ot whal ho would have paid for a hold room. . Mooring at tho moi'lnn also gave him a telephone, which normally lakes about a year to gel In Franco or Monaco, _ XIIHT WATCH HIPAJH Block St. Bicycle Champ GAP, France (AP) -- Marino Basso, - a n .Italian, won the world road bicycling championship Sunday with a fantastic final sprint. His time for the race was 7:05:59. Basso came from behind In the last 20 meters to beat the leader, Mario Bitossi of Italy, while passing Eddie Merckx of Belgium. Cyrille Guimard of France was third. . Merckx'finished fourth in the 272.574-kilometer race about 169 miles. . · - . : , · . · ' . . It was the 42nd professional victory for the 27-year-old Italian, ' ^^_ IS A FRIENDLY CALL ENOUGH? Thei new neighbors will b« glad to meet you, And they'll want to vliltwlth y o u . . . later. Right now, they heed something more--a list of schools and churches, utility companies' telephone numbers... «ll the information one needs on arriving In a strange city. So be a friend Indeed. A Welcome Wagon hostess will nail at your request to provide all this and gift* as well. Make your welcom* warmer when new neighbors arrive. Call Welcome Wagon at WILCOMC NKWCOMEIIl! UM Mm e»«p«B t» l KIWW yeu'rt h*rt, «Ky ( ) h» I Iw W«lcom« H«t*tf calf on m«. ( I I w*«W Ilkt l« Milncrib* f M tft* M.W. Ark. TIMCS ( » I ((rawly uilncrib* I* IM TIMM. rill «rt th« cmijKin and mall I* TIME*. ·»» O. f»y«tttvll|*. /'colotfu AUGUST WHITE SALE Dillard's NORTHWEST ARK. PIAZA Save as much as 22% on these CANNON* ROYAL FAMILY BEDSPREADS O "Seven Seas"or"Primrose Path" 50% Polyester and 50% Cotton No-Iron Printed Bedspreads Twin size Keg. $11,99 099 *** S Re fl . $12.99 Full Sire ,, ,,.. ^10.99 Your choice of the bright beauty and romcwc* of Seven Seas with the sun- drenched splendor of far oway lands or Primrose Palh, fantasy flowers. Recalling memories of a-lovely meadow in a delightfully modern way. Seven Seas; Azure Blue, Cinnamon or Fire Red. Primrose Path; Camellia Pink, Blue or Gold. Brighten your bedroom with either of Jhese delightful bedspreads now during DtUaKfs Colorful August While Sale. 100%, Cotton Traditional "Keepsake"'' Bedspread A litfie bit of'nostalgia. Very much today. This charming all-cotton spread is lavished with color and sumptuous texture. A wonderful look for a.romonlk- at-hearr.. . someone exactly like you. Your choice of White, Antique White, Gold or Venetian Green. Reg. $22.50 FuH Si».. M ^ Reg. $27.50 Queen Si».., $ 24.99 Tapestry-Like Jacquard-Wovcn "Melrose" No-Iron Bedspread Rich v/ilh Ihe enctmntment of lopestryliU flowers ond lexlure dramatic and deep, i! brings Ihe elegance of a for-away chaleau ai neor at your bedroom. 47.% rayon/ 30% aeelole/23% collon. Siamese Pink, Amazon Green or Mediterranean Bil;e. Reg. 560 King Size Btdipread... .^50.00 Twin size Reg. $79.98 . $29.98 KJng Sa».. 99 *26.99 FidT size Reg. $45,00 "Seven Seas" or "Primrose Path" Cannon® Printed No-Iron Sheets Twin flaf or lilted Reg. $3.79 Patina" or "Primrose Path" Plush Velura® Jacquard Towel Ensembles Bath Towefe Reg. $3.75 Reg. $4.79 Full flat or fitted $4.19 R«g. $9.99 King flot or fitted . . . . , ^7.99 Reg. $3.19 pr. Standard Pillowcases S 2.69 · Your'choice of two bedroom brightening, printed palterns. Both are muslin In an easy-caro, no-iron blond o( 50% polyester and 50% r.olton. Savon Soas; Azure Blue, Cinnamon or Fire Red. Primrose Path; Camellia Pink, Blue or Gold. R«8. $2.25 Hand Tow.lt ....................... *1.79 Res. 85« Wa«h Clolht ......................... 75* Sattna in a kaleidoscope of colors to dazzle bathroom decor. Solid color, oH cotton Volura* wHh a dobby border of hem. Primrose Path In a delightful, old fothlon wallpaper print, jacquard ilripe. Veluro* with fringed ends. MnenxHiid Dainc»lle», Mtond Jloor NORTHWEST ARKANSAS PLAZA... Between FayeUeville Springdale... SHOP MONDAY THRU SATURDAY 10AM-9PM DILLARD'S Full-Line Deportment Store Featuring the Nation's Finest Labels}

What members have found on this page

Get access to Newspapers.com

  • The largest online newspaper archive
  • 11,200+ newspapers from the 1700s–2000s
  • Millions of additional pages added every month

Try it free