Staff Blogs

Sunday, Nov 18 2012 01:16 PM

E&B Natural Resources looks offshore

By The Bakersfield Californian

Bakersfield's E&B Natural Resources is taking the plunge with an application to produce offshore oil from onshore wells in Hermosa Beach, according to a Daily Breeze story posted by the San Jose Mercury News.

Lots of government approvals remain to be gotten before any drilling can begin, but E&B hopes to put in 30 oil wells, along with four injection wells. The idea is to produce up to 8,000 barrels of oil and 2.5 million cub feet of natural gas a day, the Breeze reports.

Apparently there's a long legal history here. Santa Monica's Macpherson Oil filed a lawsuit against Hermosa Beach in 1998 and ended up claiming $750 million in damages. There was a settlement, the Breeze's story says, under which E&B would get $17.5 million from the city if a related oil ballot measure gets voted down.

The story is posted here:

Have something to share? Comment on this story
Today's Daily Deal
Daily Deal Image
Benjamin Franklin Plumbing
Water Heater Tune Up for $39
  • Value
  • Savings
  • Bought
Buy Now