The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1910-05-11
SANTA MARIA Lands
Held in Big POOL
Majority of Stock of Two Pro-
ducing Companies Is in the
Hands of Trustees

A dispatch 10 The Call from Santa
Maria states that it is reported there
that a syndicate OF English capitalists
has endeavored TO acquire the proper
ties Of the Brookshire and New Penn
sylvania companies. It is further stated
that there has been some negotiating
for options. but without prospect Of an
immediate agreement as TO price.
The stock OF these two companies is
held largely in the vicinity of Santa
Maria and the majority has been pooled
and placed in the hands Of a board OF
trustees Steps have been taken re-
Gently by the holders Of the New Penn
sylvania company TO dissolve the pool
The New Pennsylvania owns a tract
of so acres in the west Santa Maria
field on which are several producing
wells. It is at present developing SO
acres IN Cat canyon. Its first well in
the canyon has reached a depth of 8 200
feet. II was at first thought advisab BILE
10 apply the test at this depth. How
ever, a soft and apparently rich sand
was encountered and the decision was
then reached to drill farther.
HAS TWO GUsHERs
The Brookshire has several wells on
SIS tract in the Santa Maria fields. in
/Cluding two gushers. It is at present
5eVeloping go acres in the North Mid
way.
1t is currently reported that the in
terests in the market for these holdings
are those that purchased the Imperial
and Thirty-three companies in the
Kern river field. This British syndi-
cate has also continued its negotiations
with the Pipal company. also located in
the Santa Maria field. Although several
reports of the completion Of this trans
ho Al
papers, il is announced that the deal is
still pending. There is said to be ar
agreement on price but differences or
important details.
Several other syndicates have also
entered the market for property in the
Cat canyon section. Many deals OF
large dimensions are in embryo. There
is a big territory there that has at
trscted capital by reason of the depth
OF the oil sands. The Palmer and Asso-
ciated and Union oil companies are the
holders Of large tracts in this section
which are in the first stages of devel-
opment. Adjacent to these holdings
however. are smaller tracts, some OF
which have recently been sold and on
others options taken.
NEW PRODUCING WELL
Interest in this field centers for the
time being in the new wells now being
brought IN. Inc new Palmer well is
producing between ESQ and 500 barrels
a day. II is doing better than the COM
pany's gusher in its earlier stages. The
product Of these two wells is going for
the most part TO the Associated under
the 50 cent contract. A small surplus
goes TO the Union at IS cents.
The Palmer is still working with its
Stendel we'll which has been drilled to
the $500 foot mark. 1t has not been
brought in because of water trouble
/. There is 2 heavy gas pressure, however
-ctendel 10. is about ready to spud in.
Blochman No. OF the Palmer is
down 100 feet in Cat canyon, with
some traces Of oil. No. 8 is down 1900
feet.
The companies in the Cat canyon field
have united TO prevent the encroach-
ment Of water. They have invested
County Commissioner Weigle with full
authority to act where necessary.