Show Utah Oil O President Bares BaresWell Well Development Plan Development of a major Utah r roil oil field in the Uintah basin near Roosevelt Roose is scheduled E E. S. S Holt pr president Utah Oil Refining Co announced Tuesday Mr Holt disclosed that operators operators operators opera opera- tors including including- plan nine deep oil wells initially in vicinity of a wildcat now making about barrels a day Cost of the project at an estimated estimated estimated esti esti- mated per well would run up to Mr Holt said that as soon as I the area around the Roosevelt pool brought in by Oil OilS S Gas Co and Carter Oil Co can be utilized the program 1 would commence I Utilization is a device whereby operators put property in a common common common com com- mon pool with approval of the department of the interior preparatory preparatory pre pre- I to drilling Mr Holt said Carter and I would drill six of the I wells Phillips Petroleum Co upon agreeing to the unit would drill three wells Hold Up Pressure The wells wes would be drilled first on acre tracts rather than on the acre 40 tracts as at Utah's first commercial field at Ashley Valley Reason for this is need for keeping keeping keep keep- ing up flowing pressures in the wells he said Carter and now are drilling a second well Ute Tribal No 2 in the Roosevelt field Mr Ir Holt said the drilling program of nine wells would also be affected by results from that wc yell well If the pressures of the area re remain remain re re- main constant upon completion of the well nine-well program operators will put down additional tests between between between be be- tween the wells he said Mr Holt made the statements at the annual stockholders' stockholders meeting meeting meeting meet meet- ing of the company held Tuesday morning T Termed Hot Spot He said the Uintah basin was one of the hottest spots in the Intermountain oil game and that with held excellent excellent excel excel- lent leases in the area excel I The region around the Roosevelt pool has seen a lease play pIa among major oil companies such I as Carter Standard of New Jersey Jersey Jer Jer- sey The California Co Standard Oil Company of California Stan Stan- olind Standard Oil Company of Indiana Sinclair Oil and Gas GasCo GasCo GasCo Co Phillips Petroleum Co Gulf Oil Co Cities Service Sun Oil Co and other operators Only last month a total of oC acres of public domain were reputedly filed upon at the Salt Lake federal district land office |