Breitling Energy Daily Podcast #419

Depending on whom you ask, it looks like California is getting closer to tapping the nearly 15 billion barrels of recoverable oil that lies deep in the Monterey Shale. Jerry Brown has signed SB 4 into effect, a bill that provides California with its first set of requirements specifically associated with hydraulic fracturing and other well stimulation techniques, such as acidizing.  Less than one month later, the California Department of Conservation has released proposed regulations applicable to well stimulation, initiated the State’s environmental review process and set the stage for the release of Emergency Regulations, under which owners and operators will be able to proceed with well stimulation in the interim.

SB 4s passage and swift implementation will provide some certainty now for oil and gas operators looking to develop the Monterey Shale.

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