OIL: Triple Play

To the U.S. oil industry, which has moved its exploration steadily westward, came news last week that sent wildcatters racing back East. Near Conneaut, Ohio, only 50 miles from the first U.S. well at Titusville, Pa., a rich well came in in an area everyone thought was exhausted. The flow: an initial 6,720 bbl. daily v. an average ½ bbl. daily for the only remaining wells near by. The name of the man responsible for the strike was no surprise. He is old Mike Benedum, 88, the king of the wildcatters and a man who says proudly: "I have...

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