Oil & gas discussion group for those interested in the Monterey Shale. Share your experience regarding lease bonus, royalty rates, drilling activity, and oil & gas news.
If we can get permitting the Monterey looks to be very interesting - hoping others will join this group. All of my Ventura County members are in the Monterey.
Kate --- I think the govenor is trying to get that moving along quicker than it was in the past-- he fired the people holding up the permitting process at DoGGR about a year ago. What's the latest you're hearing?
Hi Drake - only know what I read in a report from a conference held in Long Beach a few days ago. The oil is there, the radical environmentalists, NRDC, is going to do what they can to stop it - but of course CA needs the tax revenue. My lease is with OXY, a big player in this whole situation... will also depend on whether or not the Feds step in (pro or con). I know that the EPA is supposed to issue regs in January which would make fracking more difficult - don't know if that is just on fed land or if it would affect everyone.
Thanks for the thorough nature of that reply and you gave me some valuable info-- namely, that the EPA is bringing down a ruling in January. I've just returned from California and drove nearly 1000 miles in and around the Monterey Shale areas of interest. I work as an oil / gas landman and represent a private equity firm out of Houston. If you or your family have minerals in other areas available for lease I would be happy to take a look at them. In any event, thank you for joining the group and I look forward to valuable input from you going forward.
We just received an offer from a title company in Bakersfield of $40 per acre for our mineral rights in Coalinga. The property is in Township 20 South, Range 16 East, M.D.B.&M. From what I've read, it seems to be a low offer, but the agent said the amount is negotiable. He told me the property apparently is at the edge of Monterey Shale play and it would be a good place to drill from. I would appreciate any thoughts on this subject.