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Show The National Enterprise, April 27. 1977 Page fifteen Oil & Gas News b Mortgage Rates EFFECTIVE AS OF MONDAY, APRIL 25, 1977 FIIA 8.0 Kamas Area Well Drilling Scheduled Vi VA 8.0 remote wildcat well is scheduled in the southern portion of Summit County, just north of the town of Kamas, according to Carlton Stowe, Minerals specialist, Utah Department of Natural Resources. Combined Gas & Oil Company of Salt Lake City will drill a 5,000 foot test to the Cambrian formation at the No. 1 Young Ranch & Livestock, about a half mile southwest of the town of Oakley. It is the first well to be drilled in the area. Closest deep drilling is some 12 miles to the north at the American Quasar Petroleums apparent oil discovery in the Twin Crrek formation some six miles southwest of Pineview field. The American Quasar well reached a total depth of 17,053 feet. The new test well is 18 miles of the Pineview field. A new south-southwe- Stowe also reports st that a new exploratory well is to be drilled in Grand County by Anschutz Corporation of Denver. It is the No. 1 Federal-769- , a 5,550 foot wildcat well northeast of Crescent Junction, about 20 miles northwest of the town of Cisco. A well drilled in this same area in 1972 produces oil from the Entrada formation at a depth of 4,700 feet. Utahs active rotary drilling rigs number 31 compared to 16 working a year ago. Drilling activity in the state is widely scattered with current attention focused south of Vernal in the Creek vicinity and throughout southeastern Utah's general Aneth area south of Blanding. Natural Buttes-Bitte- r In other oil industry news, Stowe says that Petroleum Information Corporation reports this week that the U.S. International Energy Corporation, Salt Lake City, has offered to share of the Prudhoe Bay oil at buy all of Alaskas one-eigh- th the market price plus a premium of 10 to 14 cents per barrel. The proposal was received by the Alaska Royalty Oil and Gas Development Advisory Board. The company requests a 20 year contract with an option for extension, and has agreed to begin engineering and construction of a refinery on the Alaska coast, contingent only upon the State of Alaskas approval of the agreement and of a site. Spokesman for the board said it is the first proposal to assure an refineiy for the Prudhoe Bay oil. Alaska has only one refinery on the Kenai royalty Peninsula, for Cook Inlet oil. Another refinery, in the Fairbanks area, is scheduled to go into operation this fall. in-sta- te These rates were obtained by telephone conversation with the above institutions. The rates are correct to the best of our knowledge but their accuracy cannot be guaranteed. Board at work on code Continued from page 14 bably regulate the amount of heat loss permitted in a new structure, the amount of insulation required, and the size of mechanical equipment permitted. He said it could also recommend action regarding solar energy and other alternative energy sources. We are looking at the life cycle of a building and conducting cost studies, Swenson said. He said the committee is concerned about the effect of new regulations on the cost of construction. My cousins place Weve always gone to them Theyve always treated us right ... There are a lot of good reasons for going to a certain printer. But if price heads your list, theres only one to choose from! We now feature Basque Style Cuisine on MONDAYS Join us, either Sunday or Monday, for.this popular dinner Our regular French Country menu continues Wednesday through Saturday . . . Brunch Sunday A.M. Phone 942-175- 1 for Reservations where we guarantee the lowest price 36 West Second South Salt Lake City, Utah 84101 (801)364-104- 4 Rpiween 10C and 1000 copies per original, 8'? paper, one side, no solids, screens or 11, hall-tone- camera ready copy, black ink. |