Show Oil Firm Acquires Interest In Oil Shale Atlantic Richfield Co announced announced an an- it has acquired an undivided 30 per cent interest in acres of shale oil-shale reserves reserves re reo serves in the Creek Basin of Western Colorado and an option on acres in Utah's Uintah Basin It also has acquired a alike like interest In the technology and facilities of the Colony group of companies THE COLONY group includes es Oil Shale Corp TOSCO Standard Oil Co Ohio and Cleveland ClIffs Cleveland Cliffs Iron Co Each sold a 10 per cent interest interest in in- terest in the venture to Arco Under the new arrangement Atlantic Richfield becomes the operator Basically the agreement involves involves in in- in Atlantic Richfield acquiring acquiring ac quiring part of venture oil oil- shale reserves and the right to use the so called so-called called TOSCO process THE TOSCO process worked worked work work- ed out at plant and mine fac fac- at Parachute Creek in Western Colorado involves the retorting of mined oil shale oil shale to recover the crude product Atlantic Richfield will operate oper opera ate the venture under the name Colony Development Op Op- Op- Op The so called so-called called Colony Development Co an a agen gen land land Cliffs Cliffs Standard Oil Ohio and TOSCO will have no further fur they ther responsibility s n |