The LLA would significantly reduce natural oil and gas seeps that impact marine wildlife and are one of the area’s largest sources of greenhouse gas emissions.Environmental Impact
This lease-line adjustment (LLA) would bring a number of economic and environmental benefits to the state of California and local communities, and would allow for a more efficient and accelerated recovery of oil by one of the state’s most recognized operators for safety.
The Equivalent of taking approximately 100,000 cars off the road every day.
No hydraulic fracturing stimulation
No new wells would be drilled
in Tax Revenue to the county
Venoco is Santa Barbara County’s biggest property tax payer, funding critical programs like schools and public safety. The LLA would allow Venoco to contribute even more to its community.Economic Impact
“We believe that Venoco’s facilities serve as an example of Venoco’s integrity, professionalism, safety mindedness, and environmental awareness that is vitally important in today’s world.”California State Lands Commission, November 2013
“A high level of pride and ownership is evident from Venoco employees that enhances reliability, performance, and team work.”California State Lands Commission, December 2012
“Platform Holly is a clean, well maintained, and professionally operated oil and gas platform that continues to operate safely through consistent and conscientious attention to both the safety of personnel as well as safety of the facility and processes.”California State Lands Commission, December 2012
“There is evidence that when you draw oil and gas from the subsurface of Platform Holly, it does reduce the rate at which gas is emitted from the sea floor.”David Valentine, UCSB, Earth Science and Biology
“The result of production of oil from Platform Holly is a reduction in oil seepage from the Coal Oil Point Reserve.”Jordan Clark, UCSB, Geochemistry and Hydrology