Petroleum Developments In Central America In 1923

THE year 1923 was marked by slight progress in exploring and developing the petroleum resources assumed to exist in Central America. Actual drilling for oil took place only in Costa Rica and Panama. The Sinclair Consolidated Oil Corpn., through its subsidiary the Costa Rica Oil Corpn., drilled in southeastern Costa Rica.. Its, Panaman subsidiary is reported to have abandoned drilling in Bocas del Toro. The Texas Co. drilled in Chiriqui, and the Panama Gulf Co. in Garachiné, Province of Darién. No oil was obtained in any of these wells;' shows of gas were met in Costa Rica. Concession hunting continued during the year. A number of concessions, several of which appear to be purely speculative, were submitted for ratification. Some confusion has been caused by overlapping concessions and claims to oil lands, caused partly by the imperfection of existing maps. A conflict between the Sinclair, and Gulf companies in Panama has been compromised. The Amory concession in central Costa Rica, held by the British Controlled Oilfields, Ltd., was voided by decision of the arbitrator, Chief -Justice Taft. Geologic exploration took-place in Guatemala and in Panama. The chief contribution of the year to Central American geology was a description by Katherine Van Winkle Palmer of Lower Miocene foraminifera and mollusks from southeastern Costa Rica. A new petroleum law was promulgated in Panama.