Oil Firm Acquires Ventura Property

Saba Petroleum Co., an Irvine-headquartered independent oil and gas producer, has acquired rights to its second Ventura County oil property.

The company, which has a field office in Saticoy, plans to operate a 16-well field in El Rio, north of Oxnard.

Saba spokesman William J. Hickey said he was not at liberty to disclose the seller’s identity, but noted that it is a major oil company.

Saba also produces oil and gas in Weldon Canyon in western Ventura County, and in the Santa Maria Valley in northern Santa Barbara County. In addition, the firm is active in Michigan, New Mexico, Oklahoma, Texas and Wyoming.