Texas companies now have a green light to go after the Monterey Shale in California.
California lawmakers symbolically cleared the way for drilling and fracking this week by passing regulations that don’t ban the process which is going to be a great thing for California.
The regulations do require extensive permitting, testing and notification, he added. There was concern the state would impose a moratorium on fracking but that did not happen.
I am certainly encouraged that we now have a platform with which to go forward and develop the state’s resources, including the Monterey Shale, using all the available technology, including hydraulic fracturing,
Everyone was kind of fearful that California would take a hard-line stance on that and not allow it When the rules came out, it was quite to the contrary.