Show carter oil notes high net income production of crude oil increased 6 percent to barrels dally daily gasoline and product sales were up 14 percent and net not income rose to third highest in the companas comp anys 63 year history the carter oil com banys annual repent to employees revealed today the printed report highlighted by president john W bribes summary of operations goes to employee in a 25 state area it said carter in 1955 paid to farmers and landowners in lease bonuses and for leasing expense participated in discovery of 41 oil and gas fields directed a research resean h program to advance oil finding and increase oil recovery added barrels dally daily of oil by water flooding operations and will spend on 18 water flooding systems in 1950 1956 placed in operation the worlds first fluid coker co kerat at its billings montana refinery and a new catalytic reform ei and hydro finer will go on stream oon soon to improved gisolf ries on an diesel fuels spent Re searching arching for new crude oil reserves completed 32 new service stations with 45 scheduled for construction st in 1936 1956 A total of proven area wells were drilled in 1951 1955 the report showed 94 being completed as oil wells was gas well wells and 25 were liy nine of 48 wilo wildcats cats were producers a ratio of 19 percent successful compared to Indu 14 percent wells averaged feet feet deeper than the year before but average costs dropped from to per well As employees brice said we not only contributed to progress we shared in it too our wages and salaries continued among the highest in the country we got a general pay increase c r ease last march plus a 1200 0 00 contribution to our thrift funds before christmas brice reiterated the companas comp anys plans for capital expenditures of for expansion of the business during 1936 1956 a 20 percent increase over 1955 |