Lehman Brothers Collection - Contemporary Business Archives

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Lehman Brothers Collection

Twentieth-Century Business Archives

Tide Water Associated Oil Company - Lehman Brothers Collection

Tide Water Associated Oil Company

List of Deals

Tide Water Associated Oil Company was incorporated in Delaware on March 5, 1926. Shortly thereafter, through an exchange of stock, it acquired control of several companies: Associated Oil Company, Tide Water Oil Company, San Francisco and McKittrick Oil Company, and Tide Water Associated Oil Company of California.

In February 1927 the company organized in Delaware a wholly owned subsidiary, Tide Water Associated Transport Corporation, to own and operate tankers. This subsidiary was eventually sold in October 1933.

In 1937 Tide Water purchased a 10 percent interest in Texas-New Mexico Pipe Line Company, which owned pipelines in New Mexico and Texas for $1.2 million. Tide Water took over properties in Kern County, California, in December 1940. In June 1945 it sold Branberg Meter Corporation, a subsidiary, to National Pumps Corporation.

Tidewater grew significantly during the 1940s: Sales rose from $148.7 million in 1941 to $303.3 million in 1947. Crude oil production grew as well during this period, rising from 23.8 million barrels in 1941 to 32.3 million in 1947.

Tide Water and its subsidiaries owned 1,330 miles of trunk pipelines by the end of 1947. It also owned a variety of marine vessels that included fifteen ocean tankers and nine harbor tankers as well as assorted tugs and barges. In addition, Tide Water owned other types of transportation equipment, including 1,579 tank cars and 1,067 motor trucks.

Tide Water acquired a 53 percent interest in Vangas, Inc., in October 1960. By the end of 1961 Tide Water owned or held under lease a total of 354,000 acres of producing oil and gas lands and prospective leases for an additional 1.8 million acres.

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