The herald., 1893-10-02
CABLE DRILL AND DERRICK.
Probing for Petroleum Near
Los Angeles.
The Local Oil Industry Decidedly
On the Upgrade.
Several Gushers Near Nowhail-Rapid
Development of That Region.
Eastern Capital Seek
ing Investment.

ment today, or that offers better field
for investment, than the petroleum in
dustry. The readers OF the HERALD
have from time TO time been informed
of the opening OF new oil territory, OF
the sinking OF wells and the profits ac-
cruing to the exploiters OF these enter
prises. This thing has been going on
for period OF years in q quiet way. Al
no time has there been any undue ex-
citement over the striking OF oil in
Southern California. Although nearly
everything has been doomed hereabouts
in the last decade, no one has ever
limited at boom in petroleum. But
Notwithstanding this apparent leear.hy
in an induAry that promises to add 80
much to the material wealth OF this eec-
tlon, operations have been going steadily
on with such success that the Oil fields
OF Southern California are now eupply-
ing large proportion OF the fuel for the
generation Of steam power that Is used
on the Pacific coast. Several corpora
tions engaged in the production OF
petroleum in Los Angeles and Ventura
counties have grown rich in the busi-
neee-notably the Pacific CSast, the
Union and the Pnente oil companies
and the stock OF come Of these corpora
tions, it is said on authority, is paying
all the way from Soto go per cent per
annum on the capital invested, and can
not be bought at aAy price. So much
for an infant industry, over the birth
and growth of which there has been
1,tfla ~ M a citornapt
Bat the success OF these older COM
panies has stimulated other capital to
seek similar investment. Just how
many regularly incorporated oil com
panies are now operating in Southern
California, or what is the total of the
capital so invested, could rot be stated
without considerable research, but the
amount if given would astonish the
average reader who has not kept track
of the development in this particular
line of enterprise. The country south
OF Tehachapi from Santa Barbara 10 San
Bernardino has been pretty we'll ex-
plored by the oil prospecter and great
many valuable claims taken up. 1t IL
perhapp safe to say that the bulk of the
oil territory hae been appropriated by
individuals and corporations, many Of
whom are lacking the capital TO begin
operations, but which in the course of
time will be forthcoming.
Comparatively few dry holes have
been eunk in what is known as the
Southern California petroleum belt, and
1t 10 this almost absolute certainty of
securing flow of oil and the
ready market for the product, that
makes oil stock a safe Investment.
Crude petroleum in Southern California
brings from 81. 60 to 81 SO per barrel at
the we'll, whereas in the eastern petrol
cum fields Grade oil eells at but 40 to 10
cents. Furthermore California oil
we'll seems sinexhaustible,o owhereas the
average liie OF a well in Pennsylvania ia
from three to FIVE years. Some OF the
wells OF the Pacific Coast (Senator Eel
ton a company in the Pice csfion) have
been producing steadily for fifteen
years, some of them having pumped
100000 to 100, 900 barrels of oil without
any sign of exhaustion. No wonder
that the knowing ones are beginning to
think an oil we'll in the vicinity of
Los Angeles is a pretty good thing to
have.
A good deal having been said recently
about the development OF petroleum in
the vicinity of Newhall, HERALD rep
reeentative few days ago availed him
self of the opportunity to visit the oil
fields in that region. Although he was
prepared to see much, he haa his eyes
opened wider than he expected on go
short tour OF observation. The object
i've point of his trip WAS the Banner well,
about two milest east of Newhall. Rad
ees OF the HERALD will remember that
some " onderlul reports were circulated
about this property last winter. 1t is
owned principally by San Diego people,
and first came into notoriety when the
drill struck vein of oil at depth OF 800
feet that flowed over the top of the we'll.
The first 10 hours' pumping, at the rate
OF ever 200 barrels per day, failed to ex-
haust the pressure, and had there not
been mishap, no doubt the we'll would
be producing oil at that rate yet. But
it feems that the hole was not properly
eaBed, in consequence of which it eavsd
in, the dirt and water choking of the
ilow OF petroleum. This somewhat dis
couraged the owners, but the services of
q competent well borer were secured and
the work OF cleaning out and casing the
hole is now in progress. The parties in
terested have every confidence that the
producing capacity of the we'll will soon
de permanently restored and that it will
he one OF the most valuable oil proper
ties in Southern California.
Encouraged by the success of the
Banner company, the Golden West Oil
company secured lease of the quarter
section adjoining and commenced sink
ing we'll less than 200 feet from the
Banner well. The work has now been
in progress less than one month, and
at depth OF 500 feet there is plenty
OF oil in the hole. Oil bearing strata
have been passed at various depths,
increasing in richness as the drill goes
down. 1t 10 proposed to 90 to the depth
of 900 feet, 60 IS to tap the same sand
the Banner people have, when it ie ex-
pected second gusAer will be the
result. an E#
The HERALD representative aIeo looked
over the West Coast Oil company's
property. This company has a strip OF
land quarter of mile wide and one
mile long, lying between the Pacific
Coast Oil cempany's property on the
south and the Golden West and Banner
properties on the north. They have
sunk no wells as yet. but IL surface indi-
cations count for anything they have a
veritable henanza. The tract is covered
with petroleum springs and beds of
brea from which the rich crude oil is
oozing. There were no surface indica-
tions OF oil whatever where the Golden
West end Banner wells were sunk
The West Coast people therefore feel
very confident that they can strike oil
at any point on their 155 acres. The
Pacific Coast Oil company has several
urod11cinO walla on THAR qdinininv %