•  
  •  
  •  
  •  
  •  
  • Untitled Document
    Untitled Document

    California rejects anti-fracking bill

    The California Senate has rejected a bill that would have required energy firms to notify property owners before using hydraulic fracturing to tap oil deposits on or near their land.

    The legislation, SB 1054, is regarded as a first step toward collecting information and increasing awareness about hydraulic fracturing. Currently, California does not require oil companies to disclose where they use for fracking or what chemicals they inject into the ground. Other states have imposed moratoriums and drawn up rules after toxic chemicals were discovered in drinking water near fracking operations.

    Under SB 1054, oil companies would be required to give a 30-day notice to land owners whose property line or residence is within 300 feet of a fracking operation. The firms would also have to notify local governments and water boards. The state's oil and gas agency would then post the information on its website.

    The measure failed, 17 to 18, with several Democrats joining their Republican colleagues in opposition. California Governor Jerry Brown could halt fracking through an executive order, but the move is considered unlikely, given that Brown has publicly stated that he feels hydraulic fracturing is good for the state because it is better to produce oil in California than to import it.

    Fracking’s ability to help California produce more oil was thrown into question last week when the US Energy Information Administration (EIA) downgraded the amount of recoverable oil in the state’s Monterey shale formation by 96%, citing production difficulties at initial wells.

    In the absence of statewide action, the city of Beverly Hills and the county of Santa Cruz recently voted to ban fracking even though no fracking proposals were on the table in either place. Other areas of the state are considering taking similar stands against the practice.

     

     

    Most Popular

    Related Articles

    Permian Basin update

    01/12/2015

    Over half of basin's unconventional production expected from Permian Midland

    Wood Mackenzie: The US will achieve energy independence by 2025

    10/23/2014 The US will achieve energy independence by 2025, which will mark the first time since 1952 that the US will export more energy than it imports, according to an integrated outlook by Wood Mackenzie’...

    The future of shale: capital challenges and opportunities

    10/14/2014 For US producers, shale success amid lower oil prices is increasingly dependent on the basin and operator, panelists explained during EY Oil & Gas Center’s Energy Executive Insight Session on T...

    US companies consolidate core areas while North Sea sales gain traction

    10/09/2014 PLS reports that after four straight months with deal totals in the $6-12 billion range, US upstream markets took a late-Q3 breather during August 17 to September 16, 2014 with $2.2 billion transac...

    Oilfield equipment rental market worth $53.7B by 2019

    09/02/2014 The market study "Oilfield Equipment Rental Market by Drilling Equipment (Drill Pipe, Drill Collars, Heavy-Wate, Drill Subs), Pressure & Flow Control Equipment (BOP, Valves & Manifolds...

    Transformational technology

    08/11/2014

    Unconventional resources have transformed the North American oil and gas industry and have enabled the United States to get closer than ever to energy self-sufficiency.

    More Oil & Gas Financial Articles

    Permian Basin update

    Mon, Jan 12, 2015

    Over half of basin's unconventional production expected from Permian Midland

    Wood Mackenzie: The US will achieve energy independence by 2025

    Thu, Oct 23, 2014

    The US will achieve energy independence by 2025, which will mark the first time since 1952 that the US will export more energy than it imports, according to an integrated outlook by Wood Mackenzie’s Global Trends Service.

    The future of shale: capital challenges and opportunities

    Tue, Oct 14, 2014

    For US producers, shale success amid lower oil prices is increasingly dependent on the basin and operator, panelists explained during EY Oil & Gas Center’s Energy Executive Insight Session on Thursday, 9 October, in Houston.  

    US companies consolidate core areas while North Sea sales gain traction

    Thu, Oct 9, 2014

    PLS reports that after four straight months with deal totals in the $6-12 billion range, US upstream markets took a late-Q3 breather during August 17 to September 16, 2014 with $2.2 billion transacted in 25 deals.

    Oilfield equipment rental market worth $53.7B by 2019

    Tue, Sep 2, 2014

    The market study "Oilfield Equipment Rental Market by Drilling Equipment (Drill Pipe, Drill Collars, Heavy-Wate, Drill Subs), Pressure & Flow Control Equipment (BOP, Valves & Manifolds), Fishing Equipment and Other Equipment – Global Trends and Forecasts to 2019" published by MarketsandMarkets, defines and segments the market with regional forecast and segment revenue estimates through to 2019.

    OGFJ photo of the day


    Click to view slideshow

    Oil & Gas Jobs

    Search More Job Listings >>
    Subscribe to OGFJ