Exxon's long wait nearing its end

Journal Article · Mon Dec 01 04:00:00 EST 1980 · Drilling Contract.; (United States)

OSTI ID:6160959

Rintoul, B

In April 1981, Exxon hopes to bring on stream the first production from Hondo offshore field. The field is one of 3 the company discovered in water depths of 600 to 1200 ft in the Santa Ynez unit. The other fields are Pescado offshore and Sacate offshore. The 3 fields reserves have been estimated by some geologists at approximately 1 billion bbl. The first flow of oil will come 13 yr after the company acquired interest in 47 Santa Barbara Channel tracts for bonuses totaling $218 million and more than a decade after the discoveries were made. The total capital commitment in the Santa Barbara Channel will exceed $500 million before the first oil is produced. Exxon has been prevented from producing the oil because of regulatory roadblocks. The delay involved 3 major environmental impact studies, 21 major public hearings, 10 major governmental approvals, 51 consultant studies, 12 lawsuits, and one Santa Barbara County referendum, which Exxon won.

• OSTI ID: 6160959
• Journal Information: Drilling Contract.; (United States), Journal Name: Drilling Contract.; (United States) Vol. 36:12; ISSN DRCOA
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020300* -- Petroleum-- Drilling & Production
29 ENERGY PLANNING, POLICY, AND ECONOMY
294002 -- Energy Planning & Policy-- Petroleum
DRILLING
ENERGY SOURCES
ENVIRONMENTAL EFFECTS
FOSSIL FUELS
FUELS
GEOLOGIC DEPOSITS
LEGAL ASPECTS
MINERAL RESOURCES
OFFSHORE SITES
OIL FIELDS
OIL WELLS
PETROLEUM
PETROLEUM DEPOSITS
PRODUCTION
REGULATIONS
RESERVES
RESOURCE ASSESSMENT
RESOURCES
SANTA BARBARA CHANNEL
WELL COMPLETION
WELL DRILLING
WELLS