The story of Pittsburgh: Petroleum and natural gas : in two parts, part two

Petroleum and natural gas : in two parts, part two (Vol. 1, nr. 11)

Bibliographic data

Multivolume work

Identifikator:: 1831622599

Document type:: Multivolume work

Title:: The story of Pittsburgh

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1919-1930

Collection:: Economics Books

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Volume

Identifikator:: 1831623528

URN:: urn:nbn:de:zbw-retromon-239829

Document type:: Volume

Title:: Petroleum and natural gas : in two parts, part two

Volume count:: Vol. 1, nr. 11

Place of publication:: Pittsburgh

Publisher:: First National Bank

Year of publication:: 1924

Scope:: [ca. 38] Seiten

Digitisation:: 2022

Collection:: Economics Books

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Chapter

Document type:: Multivolume work

Structure type:: Chapter

Title:: Arkansas Natural Gas Company

Collection:: Economics Books

24 non-productive. During the same period there were 17 oil wells and 8 gas wells abandoned, leaving the Company, at the close of the year, interested in 574 producing oil wells and 104 producing gas wells; 247 oil wells and 87 gas wells owned sutright by the Company and the balance owned jointly with sther companies. The total acreage under lease at the close of the year was 239,807.73 acres of which 28,367.77 were operated and 211,439.96, unoperated. 14.46 miles of gas transportation, distribution, and field pipe lines of various sizes and 18.31 miles of oil pipe line were laid during the year and 9.82 miles of gas pipe line were reclaimed. During the year your Company erected an additional gas- oline plant in the Eastland, Texas, district known as the Downtain Plant which increased the daily capacity by 8,000 gallons. The combined sales from the four gasoline plants now owned and operated amounted to 3,012,648 gallons in 1023 Your Company served 26,392 domestic consumers with ratural gas in the month of December, 1928, an increase of '.490 over the same month of 1922. The combined gross earnings and miscellaneous income for the year was $3,903,420.53 and the combined operating expenses, taxes, and other deductions was $3,232,157.75, leaving a balance of $671,262.77. Considering the depressed condition of the oil and gasoline business during 1928 your Board feels gratified with the result of the year’s operations. Your Board deemed it advisable to separate the oil and gasoline business of the Company, to the extent practicable, from its natural gas business, for the reason that the natural gas business of the company is strictly a public utility and subject to commission regulation as to rates. The separation was accomplished by increasing the capital stock of Arkansas Fuel Oil Company, (all of which was owned by your Com- pany), from $25,000.00 to $8,200,000.00 and issuing the in- crease up to $8,143,450.00 for the oil and gasoline business and properties of the Company, thereby accomplishing a sep-

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