National Oil Company of New Jersey
Bandits and revolution in Mexico are not good for petroleum exploration.
National Oil Company of New Jersey (later the New National Oil Company of Delaware) originally formed in August 1910, as a holding company with multiple subsidiaries. The venture’s activities included shipping as well as oil exploration drilling operations in Texas, Louisiana — and during the Mexican Revolution.
Further, a subsidiary National Oil Company of Mexico (formerly Cie Exploradora Del Petroleo) held title to about 36,000 acres of oil-produing land as well as a tidewater terminal and other facilities on the Panuco River near Tampico, Mexico.
The leases on La Herradura and Los Chijoles came under attack during Mexico’s revolutionary period. On April 17, 1914, Constitutionalist forces raided, appropriated livestock and equipment, and forced the company to abandon a 30,000 barrel a day gusher that had yet to be capped. They returned 30 days later, but negotiations with Mexico over damages would last for decades. (more…)
