Business: Derrick's End?

Year and a half ago two veteran Oklahoma oil men put a fancy new, aluminum-colored portable rotary drilling rig on display at the International Petroleum Exposition in Tulsa, Okla. It attracted little attention. Then the rig's attendants began to drill. At 540 feet they struck oil. Surprised, they capped the hole, turned the oil well over to Tulsa County.

This answer to a promoter's dream was fine for the rig's inventors: Carl White Jr., master salesman, and Harry H. Franks, master mechanic. Their Franks Manufacturing Co. has sold 35 truck-mounted rigs to date at $50,000 apiece. The rig eliminated the cost ($650-$2,000)...

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