| Marker Text |
A discovery well completed in Nov. 1945 about a mile to the northeast has led to vast production of oil--one hundred million barrels by July 27, 1969. The discovery well, University A No.1 , was drilled by the Atlantic Richfield Company. This development is on land belonging to the University of Texas, designated as Block 31 Unit, and leased to Atlantic Richfield (the operator), Phillips Petroleum Company, Continental Oil Company and Champlin Petroleum Company. The unit--7,200 acres in area--has 72 wells approximately 8,500 feet deep, into the earth stratum known as the Devonian formation. Through the years, unusual processes were used to increase unit oil recovery. High pressure natural gas was injected, to wash oil from subterranean rock. Later, exhaust gas was injected instead of the costlier natural gas. Research and farsighted policies made possible unusually high recovery in this reservoir. Credit for the conservation and good management of this unit goes to the Texas Railroad Commission (as the regulatory body with oversight of oil production), the University of Texas and owners of the unit. Attachment - 1989: A second milestone was reached October 17, 1987, when the two hundred millionth barrel of crude oil was produced from the Block 31 Unit. |
