Administrative History: The Baltimore Petroleum Company was formed May 5, 1864 in Philadelphia. Its founders were Clifford Pemberton and David Pleasants of Philadelphia and Thomas Poultney, Jr., Henry B. Wilson and John S. Dickinson of Baltimore.
The purposes of the company were mining and quarrying for oil, and the sites for exploration were in the townships of Cornplanter and President, Vernango County, Pennsylvania. An office for business transactions was established in Baltimore and an on-site office was maintained in Oil City, Pennsylvania. The company purchased land and leases in Vernango County and invested in equipment for putting down wells. In 1865, only 4 wells had yielded oil. Drilling efforts continued at Pit Hole Creek but in June 1866, the petroleum business remained unprofitable. In September 1881, the stockholders met and voted to surrender the company's charter's and distribute its assets. The Board of Directors agreed and the Company disbanded in 1881.
From the description of Baltimore Petroleum Company records, 1864-1881. (Johns Hopkins University). WorldCat record id: 48380063
