Newhall Land and Farming created it first subsidiary, The Newhall Oil and Development Company. The western end of the ranch was then leased to oil companies to drill for oil, however none ever did. A nice income was generated from the leases.
Newhall Land and Farming created it first subsidiary, The Newhall Oil and Development Company. The western end of the ranch was then leased to oil companies to drill for oil, however none ever did. A nice income was generated from the leases.