Chevron Corporation (NYSE: CVX) announced a significant oil discovery at the Anchor prospect in the deepwater U.S. Gulf of Mexico. Anchor is the second discovery in the deepwater Gulf for San Ramon-based Chevron in less than a year.
“The Anchor discovery, along with the previously announced Guadalupe discovery, are significant finds for us in the deepwater Gulf of Mexico,” said Jay Johnson, senior vice president, Upstream, Chevron Corporation.
The Office of Administrative Law (OAL) filed final proposed SB4 regulations on well stimulation treatments with the Office of the Secretary of State on Dec. 30, 2014. The regulations become effective on July 1, 2015.
The regulations and related documents are posted on the DOGGR (the Division of Oil, Gas, and Geothermal Resources) website.
The posted documents include the final text of regulations approved by OAL, the Well Stimulation Treatment Neighbor Notification Form, the OAL Notice of Approval, an Updated Informative Digest, and a Final Statement of Reasons for adoption of the regulations.
The Supreme Court settled a nearly 70-year-old dispute on Monday, Dec. 15, about the undersea boundary between California and federal territory. The ruling will help resolve conflicting claims over oil and gas leases and prevent future litigation, federal and state officials said.
The issue had its origins in 1945, when California issued oil leases on undersea land near Long Beach. President Harry Truman declared that all submerged lands belong to the federal government. In 1947 the Supreme Court agreed, and federal officials sued California.
Congress attempted to resolve the conflict with a law that said states owned land up to three miles from their coasts, but the legislation did not set the precise location of that undersea border.
In Monday’s ruling the Supreme Court set the boundary in the form of 100 pages of map coordinates.
The California Air Resources Board will hold a hearing Thursday, Dec. 18, at 9 a.m. to provide a status update on the ARB staff’s Technology and Fuels Assessment.
The assessment is being conducted as part of the agency’s Sustainable Freight Strategy and Future State Implementation Plans.
Occidental Petroleum Corporation (NYSE:OXY) announced that it has completed the spin-off of its subsidiary California Resources Corporation (NYSE:CRC) as an independent oil and natural gas exploration and production company operating exclusively in California.
“We spent more than 15 years building a California company, and we expect it to provide significant value to California Resources Corporation stockholders,” said Stephen I. Chazen, President and Chief Executive Officer.
With the 2014 elections over, it appears that GOP House Republicans may be ready to take up debate on reversing the four-decade ban on exports of US crude oil.
U.S. Representative Joe Barton, a Texas Republican, today (Dec. 9) introduced H.R. 5814, aimed at removing all restrictions on the export of crude from the United States.
The bill would also establish a National Policy that “no official of the Federal Government shall impose or enforce any restriction on the export of crude oil.”’
