Newhall-Potrero Oil Company
Location of Newhall Corporation Ferguson 1, spudded in 1940 by the Newhall-Potrero Oil Company on a Division of Oil map. It would become Newhall Corporation Wolfson 1 in 1943. The complete (# 253) map can be seen here.
One of the smaller companies that tried to profit from the Newhall-Potrero oil field was the Newhall-Potrero Oil Company. Their Articles of Incorporation were signed on July 25, 1939, and filed with the state of California a few days later. The three directors were R. Ed. Sullivan (of Long Beach), William Meredith (of Long Beach), and L.R. Watters (of Los Angeles). 100,000 shares of capital stock were authorized to be issued at a par value of $1.00 each. (This was amended to 200,000 shares on January 31, 1941.) They incorporated for the purpose of getting into the petroleum business.
After obtaining a lease from the Newhall Corporation (whose president was Joseph K. Ferguson and its secretary was Burnett Wolfson) on land just east of Bardsdall Oil Company's Rancho San Francisco lease and north of the soon to be Ferguson lease of Willis, they spudded their first well (called Ferguson No. 1) on July 4, 1940 (see the well records (here). Drilling was stopped on September 6 at a depth of 8000 feet, the contracted depth. No oil sands were found. Drilling was resumed on February 14, 1941, and a depth of 8490 feet was reached, when drilling was halted on March 25, 1941. No oil sands were found.
On April 27, 1943, the Bardsdall Oil Company obtained the Newhall-Potrero Oil Company's lease. The well name was changed to Newhall Corporation - Wolfson 1. In 1945, Bardsdall deepened the well to 9508 feet. Again, no oil sands were found. In October of 1945, the well was partially abandoned by Bardsdall. In 1989, the well was officially abandoned.
After 1943, the Newhall-Potrero Oil Company apparently went out of business. I found no other mention of their name in any newspaper or oil publication.
Directors of the Newhall-Potrero Oil Company on the last page of the articles of incorporation. (Note: R Ed Sullivan is not the entertainer Ed Sullivan, who was born Edward Vincent Sullivan).
From the Articles of Incorporation of Newhall-Potrero Oil Company, Los Angeles County Incorporation Records, Seaver Center for Western History Research, Los Angeles County Museum of Natural History.