California News Pulse January 2023

Posted: February 22, 2023

California | January 2023

Field Overview

California, with both onshore and offshore oil production, has been supplying the U.S. with petroleum products since the 19th century. Operations are primarily focused around Kern County, the LA Basin, and the San Joaquin Valley, with the Midway-Sunset oil field in Kern County being the state’s largest.

State Drilling Statistics
Total Rigs in California- 4 (-1)
Total Rigs in the United States- 760 (-11)
Total U.S. Rigs 18% YTD

State Permitting Data
Permits Approved – 19

State Highlights

California city gives up on 100% renewable plan

The Huntington Beach City Council voted to abandon its proposal to purchase all of its energy needs from the Orange County Power Authority (OCPA), citing issues with transparency and a string of unpleasant audits. Estimated exit costs for the county are in the neighborhood of $65 million. The council said that the money saved from the exit might be utilized more effectively on other initiatives, such as enforcing regulations pertaining to homelessness. After the Department of Energy’s $50 million effort to assist towns in making the switch to renewable energy systems was launched, the plans were changed.

Record 2022 profits show the oil and gas industry remains strong as climate change worsens

Oil and gas firms made record-breaking profits in 2022 despite the accelerating and worsening effects of climate change, a reassertion of control that is leaving its mark all over. Despite the Paris Agreement’s aim to keep global warming to 1.5 degrees Celsius, the world is using more oil and gas. With ambitions to generate one million barrels of oil per day by 2030, oil giants are extending their operations in the Global South, putting the nation at risk of an environmental catastrophe. Due to Ecuador’s continued push into the Amazon rainforest, Guyana is facing pressure to expand its oil and gas industry.

California voters to weigh in on banning new oil and gas wells near communities

A California rule that forbids the construction of new oil and gas wells close to residences, schools and other public infrastructure has been placed on hold until a referendum on the issue is held the next year. Senate Bill 1137’s opponents satisfied the requirement to place the item on the ballot as a referendum for the general election that will take place on November 5, 2024, by collecting more than 623,000 valid voter signatures. The CEO of California Independent Petroleum Association (CIPA), Rock Zierman, said in a statement, “Senate Bill 1137 threatens the livelihood of over 50,000 hardworking Californians and forces the state to rely on more expensive, imported foreign oil that is completely exempt from California’s strict environmental laws.”

Rig Count

California Oil Production

California Gas Production

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