The Belen News
January 16, 1919
Eastern Gold in Valencia Oil Fields
Standard Oil and Texas Company, two strongest oil corporations in World, will Exploit Valencia’s Rich Field
The Strong Eastern Oil Corporations interested in the great oil fields of Western Valencia County, means the active development of this promising virgin field.
The Carter Oil Co., a producing subsidiary of Standard Oil, recently took a lease of 400,000 acres from McKinley Land & Lumber Co., in western Valencia and Eastern McKinley counties, New Mexico, and now the Texas Company, a strong competitor of Standard Oil, is interested in this section with the understanding that a plan of aggressive development is contemplated.
There are great massive dikes of unbroken sandstone; wonderful coal veins stand up prominently on the surface; oil shale and oil sand are in evidence; the structure is well defined, and from a well being sunk for water nearly a QUART OF HEAVY BLACK OIL was taken from a bucket of water, which is the best showing ever made at a depth of 248 feet.
Belen business men recognized the ….. of this field and they became interested three months before the Standard Oil got into the field and of course the Belen men took the most promising oil lands in the entire field.
The Belen men are Judge M. W. Musgrove oil operator, Paul B. Dalies, director First National Bank, H. E. Wetmore, manager Belen Auto Co., F. C. H. Lingston, attorney, Jas. F. Clarke, cashier A.T. & S.F. railroad, J. J. Wegs , and R. H. Tompkins contractors.