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Attracted international attention by size and engineering achievements. During 1948 four widely dispersed wells penetrated the Canyon Reef Formation at depth of 6,500 feet. Soon more than 2,000 wells defined gigantic fields which contained an estimated four billion barrels of oil. This rapid drilling involved thousands of people--contractors, drillers, engineers, geologists, lawyers, office workers, roughnecks, roustabouts, suppliers. Oil companies poured $300,000,000 into the operations. By 1951 engineers saw that only 20% of Canyon Reef oil could be produced in competitive operations, but recovery could be doubled by pressure maintenance in unitization. Successful formation of Diamond "M", Sacroc, Sharon Ridge Canyon, and Cogdell Units and initiation of fluid injection were events of immense significance. The programs showed by 1955 that free American enterprise can work out voluntarily the most modern and efficient conservation procedures. Thus Scurry County--with a petroleum industry dating from shallow wells in 1923--has become a pioneer in oil history, and is assured a high level, stable economy for many future decades. (1967) |
