California Resources Corp., which was recently spun off from Occidental Petroleum Corp., has put its plans for a major well drilling project in Carson on hold because of low oil prices.

The company, which had been planning to drill up to 200 wells in the northeast corner of the city over a 15-year period, withdrew its application for approval.

“California Resources Corporation has concluded that our proposed Dominguez energy project is no longer practical in the current commodity price environment, and we are asking the city to stop processing the project,” spokeswoman Margita Thompson told The Los Angeles Business Journal.

When the project was first proposed by Occidental Petroleum three years ago, the company said it expected the 200 wells to yield up to 6,000 barrels of oil and 3 million cubit feet of gas daily.