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Low crude prices prompt withdrawal of Carson oil-drilling project
2015-01-27 09:09:38| Energy - Topix.net
A 200-well oil and gas-drilling project planned for Carson's Dominguez Oil Field has been scrapped in the face of declining crude values and a recent boom in domestic production, officials announced Monday. California Resources Corp., a spinoff of one of the country's largest oil producers, Occidental Petroleum Corp., withdrew its application with the city to dig horizontal and vertical wells on a 6.5-acre industrial park at 1450 Charles Willard St., near the StubHub Center.
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