oil and gas companies

Wellington Oil Company incorporated in Delaware on September 1, 1936, in order to merge the Wellington Oil Company (California) and Santa Clara Oil and Development Company (Texas). The new company issued 850,000 shares of stock in exchange for the physical assets of the two previous petroleum exploration companies.

John T. O’Neil and C.W. Atkins were named president and vice president respectively; both were experienced and successful independent oil producers. The company’s main office was in San Antonio, Texas.

In 1942 Wellington Oil Company was sold to Seaboard Oil Company with one share of Seaboard exchanged for every four shares of Wellington. Seaboard Oil Company was in turn absorbed by the Texas Company (later Texaco) in 1958.

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The stories of other exploration companies trying to join petroleum booms (and avoid busts) can be found in an updated series of research at Is my Old Oil Stock worth Anything?

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