Abilene Reporter-News from Abilene, Texas • Page 11

Local Committee Favors One Statewide Association The executive committte of R.H. Prewitt In addition to Wes Central, the rv. i riewiu in aaauion to wcs me ine west Central lexas Oil president of West Central Texas other oil and gas associations VJM Assn. has voted unanimous-1 group, said final approval, how- are Texas Independent Produ- iy to support conditional mergerjever, would have to be made by cers Royalty Owners live independent oil and ES nu associations in Texas. the board of directors of the local association.

Oil City Marks 100th Birthday KILGORE, Tex. (AP)-This is special year for this East Tex as oil field city. It's the 100th birthday of the town founded in 1872 by Constantine Buckley (Buck) Kit gore, then a young attorney, Confederate veteran and later a congressman. L.N. Crim, chairman of the Centennial committee says his group plans to spread the observance throughout the year Instead of concentrating it in a single week or so of activities.

Mayor Foster T. Bean, tracing the history of the city since it was founded, has noted several significant dates. The first was the founding of the city. Others include: 1906, Incorporation of the school district; Dec. 28, 1930, bringing in the Ed Bateman Lou Delia Crim well, which triggered the East Texas oil boom in Kilgore; Feb.

21, 1931, incorporation of Kilgore as a city, and 1935, establishment of Kilgore College, now grown into a major institution with 3,000 students. Kilgore, which has gained a reputation as 'America's No. 1 Small City," might never have won that title had it not been for "Buck" Kilgore. In fact, had it not been for him, there might not have been any Kilgore at all. Here's why: When International i Great Railway engineers planned their new line through East Texas, they proposed to locate a station and build a depot hi Danville, several miles east of what is now Kilgore.

But the pioneer Hamilton family refused to give the railroad the right-of-way through their Danville farm, according to a member of the family, as told to Kilgore Mayor Foster Bean Borne years. Attorney Helped It happened that "Buck" Kilgore, than a 37-year-old attorney, justice of the peace and Confederate veteran who rose Coffee Forum Set Thursday Annual coffee forum sponsored by the West Central Texas Oil Gas Assn. will be held at 10 a.m. Thursday at the Petroleum Club. Various issues are discussed at the informal sessions.

All interested persons are invited to attend, R. H. Prewitt association president, stressed. from private to lieutenant colo nel in the War Between the States, was ready for this sittia tion. Three years earlier, in Col.

Kilgore had bought 840 acres of land at a U.S. Mar shal's sale. He offered to give the IGN a 200-foot right-of- way through what is now Kilgore, a total of 15 acres, "in consideration of the enhanced value" the railroad would bring to his adjoining property. So the all important railroad station was located in the heart of what is now Kilgore. The foresight of the young attorney is shown from the deed records, as quoted by Mayoi Bean.

The deed which gave the right-of-way to IGN Railroad was dated Oct. 28,1971. On June 27, 1972, another deed was filed, which shows that Col. Kilgore sold Kilgore's original townsite of 174 acres to IGN for 2,800 jold dollars a lot of money in hose days. Old-timers report that was a busy place in the 1870s, as it spread along the railroad.

Sawmills were a lead ng industry. The railroac maintained headquarters for cross-tie buying in Kilgore for nany years and the business lecame a bustling small in dustry. Fertile bottom land was tilled .0 produce cotton, corn and other crops. In 1900, the population of Kilgore was about 300, and it had grown to about 700 by 1930. The business "boom" in the 1920s was enjoyed but the depression that followed was felt ust as in the larger cities.

Old- imers hestitate to paint a pic- ure of what would have hap- icned in Kilgore if oil had not een found. 1930 Discovery It was in September 1930 that Wildcatter C.M. (Dad) Joiner drilled into the world's largest ill field, the East Texas. His i near Henderson prompted drilling in other treas, and the Bateman-Crime No. 1 at Laird Hill near Kilgore was brought in on December 28, 1930, to trigger a boom in Cilgore.

Thousands of persons began ushing to Kilgore. Shacks and ents blossomed around the community. People slept in in boarding houses--or in any shelter they could find. By a vote of 102 to 0, residents voted on Feb. 20, 1931, to ncorporate.

North Texas Oil Gas Permian Basin Oil 4 Gas and the Panhandle Producers Royalty Owners Assn. UNITY IN ACTION," said James E. Russell, committee member from Abilene, "is the only way that we can save our industry. With 35 per cent of the nation's oil and gas production in Texas, it is imperative that we should restructure and work one statewide organization for the benefit of all independent producers in the state." Reorganization as as possible was the concenus all committee members, am with that urgency it was concluded "The time is now, to day." THE EXECUTIVE COMMIT TEE in a meeting here consid ered alternate proposals that special committee, with W.N Tindell of Abilene as head, re cenlly had proposed at a meet ing in Dallas. The Dallas meeting was called by William J.

Murray Jr. Austin, president of the Texa; Independent Producers Roy ally Owners at the re quest of several Texas indepen dents. The meeting was attend ed by representatives of all five associations and all geographii areas of the state to discusi ways of making Texas ndependent producers' organi zation more effective in local state and national matters." Permian Basin Rigs Show Gain Fifteen more drilling rigs were working in the Permian Basin Empire last week than were reported two weeks ago, according to G. W. Murphy Industries' weekly count.

A total of 195 units were mak- ng hole in 41 of the Basin's 65-county area. In the previous week, only 180 rotaries were working, while a year ago, there were 177 active units. Lea County in Southeast New Mexico again topped the list with 33 rigs, followed by Pecos with 26, Ward with 17, Martin with 11 and Eddy, N.M., 10. Three east Basin counties, Poncho, Won and Tom Green in Texas Railroad Commission Dis- rict 7-C (San Angelo) became Opening Snyder unit R. J.

Becker, president of Chevron Oil Western Division, and Arthur Barbeck, chief engineer for the Texas Railroad Commission, are shown opening valve releasing the first carbon dioxide into a SACROC injection well in the Kelly-Snyder Field this week. Also shown from left are R. C. Randall, Granville Dutton, Barbeck Becker, J. R.

Graham, E. 0. Price, and Bob Harris. (Snyder RNS Photo) First Carbon Dioxide Injected Into SACROC By NONA BUNCH Reporter-News Corrcsponden SNYDER--The SACROC Unit has injected the first carbon dioxide (202) into its new $142 million system in the Kelly-Sny der Field northwest of Snyder. This is the largest assisted re overy projects in the Unitec States and is the first to use C02 miscible injection on a large scale to enhance recover of oil.

is estimated that an additional 230 million barrels of oil will be produced from the Kelly-Snyder- field as a result of the C02 njeetion. SACROC is purchasing carbon dioxide from four 'ields in the Val Verde Basin near Fort Stockton. R. J. Becker of Denver, Colo- president of Chevron pi 1 Ho-Western Division, Granville Dutton of Sun Oil Co.

Snyder and R.D. Randall of the Mobi Oil Corp were present for the opening of the valve to begin the njection project. The Railroad Commission ol "exas has previously granted increases in SACROC's production illowable for undertaking the spensive project from 174,000 ctive drilling-wise again. ibarrels per day last May 1 to Shortage Looms For Natural Gas By MAX B. SKELTON AP Oil Writer HOUSTON (AP) Two econ- mists say existing shortages re expected to worsen during 972 but the nation's energy re- uirements can be ied.

available to satisfy the full market potential." In the latest edition of a monthly review 'p re are by Chase Manhattan's energy divi- John G. Winger and Gregory Shuttlesworth of Chase Man- attan Bank say, however, the equirements will not neces- arily be met in the form pre- erred by consumers. In some instances custom- rs will have to resort to substi- utes," they report in their nergy outlook for 1972. "Natural gas is a premium orm of energy and much in demand in many energy markets. I But not nearly enough will be The Oil Patch By Gordon Bankston Schutt- rather 3.2 per anticipated 244,000 barrels per Field will be placed in operation THE ABILENE lETOKTEB-NEWS 11-A (ill No.

-179 Charter No. 15203 National Rink Region Nt. II KKPOKT OK CONDITION. CONSOI IDATINC DOMESTIC Of THE ABILENE NATIONAL BANK of ABILENE IN THE STATE OK TEXAS. AT THE CLOSE OK BUSINESS ON Dec.

31. 1971 I IN TO CALL MADE BY COMPTROLLER OK THE CURRENCY. UNDER TITLE 12. UNITE!) STATES CODE. SECTION 161.

AMtTS Cash and due from banks 1.598.202 4 1 U.S. Treasury securities Obligations of other U.S. Government agencies mil coprorations 1.715.362 50 Obligations of Stales and political 810.7.1 Otlif securities HMIM 22 200 00 Federal funds sold and securities purchased under agreements to resell Loans Bank premises, furnilnre and fixtures. and olhrr assets representing bank Real estate owned other than bank premises Other assets 307 jq TOTAL ASSETS UABimn Demand deposits of individuals. partnerships, and corporations i line and savings deposits of individuals partnerships, and corporations 1,200.000.00 .5.986.389.76 ....293.19636 16.50(1.09 5,268.885 82 Deposits of.

United Stairs Government Deposits of Stairs and political subdivisions 1.321,000.00 Certified and officers' checks, etc A I I I TOTAL DEPOSITS (a) Total demand deposits $3.825.002.96 (b) Total time and savings deposits Hi.513.8S5 82 Olhrr liabilities TOTAL 92,515.87 10,431,404.65 ..506,974.70 340,000.00 166 974 7n day on February 1 this year. The estimated cost involved in sepower is being installed on the putting the system in operation pipeline. includes $40 million for pipeline construction and compressor tion project, in addition to the system, $74 million for field installations in the Kelly-Snyder field, and $27 million for the purchase of C02. Much expense ter distribution facilities, had is expected in the processing of necessitated the enlargement of C02 produced oil since the C02 must be removed from the oilfield pipelines, the gas field pipe lines, the gas gather- 1971.. The pipeline was completed last October.

The first compressor station, located in the Pucket field, has been in operation since October 29, 1971. The has packed the pipe- on Feb. 1. A total of 81,150 hor- Installation of the C02 injec- building of the C02 pipeline and compressor facilities, and the field oil production and C02 wa- plant to handle production rate. the increased produced oil before further pro- ng lines, and the gas processing cessing.

CANYON REEF CARRIERS, Inc. was formed in December, 1970 to build, finance and operate the C02 pipeline and compressor facilities. The pipe and compressors were ordered in February, 1971 and field con- AMONG THOSE PARTICIPATING in the opening were Arthur Barbeck, chief ehginee for the Texas Railroad Commi sion; R. J. Becker, President Chevron; J.R.

Braham, pres CAMTALACCOVNTS Equity capital-total Common Stock-total par value No. jliares authorized 200,000 shares outstanding 200.000 Surplus Undivided profits TOTAL CAPITAL ACCOUNTS TOTAL LIABILITIES. RESERVES. AND CAPITAL ACCOUNTS 37945 MEMORANDA Average of total deposits for the 15 calendar days ending with call date 9,974 529.57 Average of total loans for the 15 calendar days ending with call date Interest collected not earned on installment loans included in total capital accounts GfLt 040 AJ tf struction was started in April de nt Canyon Reef Carrier and vice president of prodii tion, Chevron-Western Division E.G. Price, division mana; er of production Chevron-Wes era Division; Bob Harris, direc or of Research and Inspection ine with 450 million cubic feet ex as Railroad Commission of C02 to a pressure of 2,000 per K.C.

Randall, Division genera manager, Mobil Oil Corp; am Granville Dutton, manager Unitization Joint Operations, square inch, ready for the start if the injection. The second compressor sta- ion, also located in the Puckett Sun Oil Co. (ill No. 480 Charlor No. 13727 National Bank Region No.

11 REPORT OK CONDITION. CONSOLIDATING DOMESTIC SUBSIDIARIES. OK THE The Citizens National Bank in Abilene IN THE STATE OK TEXAS. AT THE CLOSE OF BUSINESS ON DE- CEMHEH 31. 1971.

PUBLISHED IN RESPONSE TO CALL MADE BY COMPTROLLER OK THE CURRENCY. UNDER TITLE 12. UNITED STATES CODE. SECTION 161. Aims ')ash and due from banks S.

Treasury securities 4.857.749.00 Jbligalions of States and political subdivisions 10.095.836.53 securities Ixtnk premises, furniture and fixtures, and oilier assets representing bank premises 2,588,685.43 leal ('stale owned oilier than bank premises 21.00 residential 14 per cent, commercial 5 per cent. and Test Spoiled In Schleicher TOTAL ASSETS S953.IH.119 LIAIIUTIES demand deposits of individuals, lartnerships, and corporations 49 'ime anil savings deposits of individuals. ,06 5,668.918.06 783,522.38 fully satis- sion, Winger and lesworth reported moderate increase cent in the nation's 1972 energy requirements. They said the increase was less than had been expected but reflected both the persistent sluggish pace of the economy and unusually mild weather. "A somewhat stronger rate of expansion seems in prospect for 1972," they forecast.

"The improvement is based upon a fairly widespread expectation-or hope--that the tempo of the economy will quicken and that! rl corporations 35,023,733.35 weather conditions will return! 1 ls 1 Gov i normal Deposits of Stales and political subdivisions 4,582,362,0 They add, however, that much will depend upon attitudes. Weather Factors "If uncertainty on the part of consumers and businessmen persists, the markets for primary energy are likely to be smaller than we are now predicting," they reported. "On the other hand, if confidence is fully restored, they could be larger than now contemplated. As always, abnormal weather- cither colder or warmer--can be an important factor loo." Winger and Schuttlcsworth place the total market's primary users of energy in five categories: industrial 31 per cent, electric utilities, 26 per cent, transportation 24 per cent, residential 14 per cent, and cent, transportation 24 per cent, of c-olniilcrcial i Certified officers' checks, etc TOTAL (a) Total demand deposits (li) Total time and savings deposits Federal funds purchased and securities sold under agreements to repurchase 375.000.00 Other Liabilities 1 75-) TOTAL LIABILITIES HSERVU ON LOANS AND SICURITIII Reserve for bad debt tosses on loans set lip a lo IRS rulillss TOTAL RESERVES ON LOAXSAiND 765.333.07 5.387.ROS.52 2,250,000.00 CAPITAL ACCOUNTS Equity capilal-total Common stock-tola! par value shares 225.000 shares outstanding 225,000 Surplus Undivided profits TOTAL CAPITAL ACCOUNTS TOTAL LIABILITIES. AM) CAPITAL ACCOUNTS 83,953,014.19 MIMORANDA Average of tolal deposits for tbf 15 calendar days ending with call dale 74,155,223.70 Average of tolal loans for llie 15 calendar days ending with call date 49,815,874.94 "We could increase production a barrel a day if we could figure out a way to gel the oil off Red's boots into the tank.

John M. Clark and Vinson Oil Co. of Midland No. 1 Wrighl was staked as a proposed wildcat in Schloichnr County. I Location is 20 miles northeast of Eldorado on 645 aero lease.

1 II spots fifill foot from the' iitiu'lh and east linos of Section, Block GHSA Survey. I Herbert Krempin, Cashier, of the above-named bank do hereby declare i a lliis repot! of condition is and correct lo the best of my knowledge. and belief, Herbert Krempin the midcrsijmpd direi-lors llie correctness of lliis report ol condi- lion and declare a i il has brni examined by us and lo llie best of our and belief is i anil correct. Joe C. Benson Garth Me Lean Harwell Barber Director! I.

Elvis Kelly. Assistant Cashitr. of the above-mined bank jo hereby declare that this report of condition is true and correct to tde bat of ny knowledge and belief. Elvil Kelly Ve. the undersigned directors attest the correctnew of this report ef condition declare that it his been examined by us ind to the betl of our khowledge ind btlief is true and correct.

DIRECTORS JocHHodgef Dine! Knight LP.Kolly Call No. '180 Charter No. .4166 National Batik Region No. II REPORT OF CONDITION. CONSOLIDATING DOMESTIC SUBSIDIARIES.

OF THE' First National Bank Of Abilene IN THE STATE OF TEXAS. AT THE CLOSE OF BUSINESS ON DF, CEMBER 31. 1971 PUBLISHED IN RESPONSE TO CALL BY COMPTROLLER OF THE CURRENCY. UNDER TITLE 12. UNITED STATES CODE.

SECTION 161. Aims and due from banks ne.luding None unposted debits) 13.319.715.91 I.S. Treasury securities 11.791.817.92 Obligations of olher U.S. Government corporations 2.91«.875.(K) Obligations of Slates and political subdivisions 12.320.214.00 Other securities (including corporate stock) 165.000.00 'rading account securities 5,000.00 Federal funds sold and securities purchased nder agreements to resell 7,000,000.00 37,747,855.54 iank premises, furniture and fixtures, and ther assets representing bank premises 1.684,78-1.0-1 Olher assets (including None direct lease financing) 732,392.20 'OTALS ASSETS UAIIUTHS deposits of individuals, artnersiiips, and corporations 30.135,265.82 'ime and savings deposits of individuals arlnerships, and corporations )eposits of United States Government 768,400.17 deposits of and political nubdivisions 4,951,494.60 deposits of commercial banks 8,701,791.73 Unified and officers' checks, etc 649,544.90 DEPOSITS $76,320.285.69. a) Total demand b) Total time and savings deposits 33,813,988.47 ederal funds purchased and securities ild under agreements to repurchase )ther liabilities 917,260.98 TOTAL LIABILITIES 79.587.546.67 RtURVIf ON IOAN1 AW HUHTM eserve for bad debt losses on Loans (set up irsuant to IRS rulings) 842,283.67 eserves on securities 9 5000000 OTAL RESERVES ON LOANS AND SECURITIES CAPITAL ACCOUNTS luity capital-tola! 7.003824 27 minion stoek-tolal par value 2,200 000 00 o.

shares authorized 220,000 o. shares outstanding 220,000 lu 3,300,000.00 nilivmed profits 1 503 "7 CAPITAL ACCOUNTS TM 7'o03'824 4 OTAL LIABILITIES. RESERVES, ND CAPITAL ACCOUNTS MIMORANDA of total deposits for.tbe 15 calendar ending i call date 74,833,747.04 of total loans for the 15 calendar ending with call date 37,576,726.43 W. R. Kainey, Senior VP Cashier of the above-named bank do hereby that this report of condition is true and correct to the best of my nowlcdge and belief.

T. R. Rainey We, llie undersigned directors attest the correctness of ibis report of ion and declare that it has been examined by us and lo the best of our knowledge and belief is true and correct. F. Winlen J.

Allen KY.rd Ralph N. Hooki.