Los Angeles herald., 1910-12-25
NEWS OF THE MINES AND OIL FIELDS
PALMER OIL COMPANIES
CONSOLIDATE INTERESTS
Three Strong Concerns Merge
Under New Name to 0per-
ate in Several Fields

A union Of great oil interests operat-
ing in the Santa Maria, the Ventura
and Midway oil fields marks the close
of the year in the petroleum industry.
1t is officially announced that negotia-
tiOns have been completed for the
merging of the properties of the Pal
mer Senior, the Palmer Junior and the
Paula Oil companies. The merger COW
ers approximately 2500 acres of produc-
ing and proved territory. These prop
critics will be under the management OF
the operators who have placed the
Palmer Oil company in the front rank
of producers. The new corporation is
the Palmer Union Oil company
The amalgamation of the interests
represented in the deal now consum-
mated unquestionably may be consid-
cred among the leaders in a year that
has been fraught with activity. Brought
under one management are $50 acres of
the Palmer Junior Oil company lying
directly north of and adjoining the IA
nous 16O-acre Blochman lease of the
Palmer Oil company, in the east santa
Maria field; $50 acres of the Palmer
Senior Oil company, adjoining the Pal
mer Junior on the north; $50 acres in
the high gravity field of Ventura coun-
ty. and 40 acres i'll the heart of the Mid
way field.
on the Palmer property two wells
are nearing completion, NO. l having
reached depth of $500 feet. This well
has already passed through 300 feet of
oil sands and is to be driven a depth OF
3100 feet. No. 2 has reached depth
of 1900 feet, and both demonstrate con-
ditions identical with those that have
produced the gushers of the Palmer
Oil company.
SANTA MARIA THE BEST
While the Paula Oil company has
four producing wells on it's Ventura
field holdings, and the same ON its
Midway property, the production Of
which is under contract to the large
marketing corporations, the greatest
interest lies in the Santa Maria acreage
of the consolidation 1t is the expert
consensus that the center of the great
oil pool underlying thu east Santa Ma
ria field is midway between the Palmer
Junior and Palmer Senior properties.
Northward on the banks of the Santa
Maria river, the asphalt outcrop marks
the limit of the pool, and on the SOUTH
ern side the gushers of the Palmer Oil
company determine the northWard dip
Of the oil strata.
Measured by the geologists. a basin IS
here projected, and the surface OF the
Palmer Junior and Palmer Senior form
the lid Of the bowl that holdS tIle
greatest depth of oil sand of the high
est saturation. This saturation is esti>
mated to be as much as 20 per cent;
the gravity not yet determined. That 1t
will be high is the opinion of the ge-
ologists That this property will sus-
tain not tens but hundreds of wells Is
acknowledged by authorities in the
employ Of the state and the federal gov
ernments.
The union of the Palmer Junior, the
Palmer Senior and the Paula proper
ties has been brought about after nego-
tiations covering a long period. While
a majority Of the principal owners OF
the Palmer Oil company and OF the
Palmer Union Oil company arc idenu-
cal. the management will remain sepa-
rate. The directors of the new corpora
ration are:
Frank L. Brown, president; ]. c.
Kemn Van Ee. first vice president;
Lewis A. Hilhorn, second vice presi-
dent, George L. Walker, treasurer; {.
Jensen. secretary: Gustav Beamunn,
c. B. simmons and p. F. Unger direct
ors.
The mana cement that has made the
Palmer successful as an oil producer
will direct the development of the hold
ings of the new Palmer Union.