In the time since the Culver City Council voted to terminate the right to drill on the city-owned section, the Los Angels County Board of Supervisors also ruled on the right to drill. With the entire field now being considered for repurposing, the city still has to complete negotiations with the current lease holder, Sentinel Peak Resources, as to when and how the oil extraction will come to a complete end.
The City last issued a public statement and update on the Oil Termination Ordinance on June 13, 2022. Since that time, a Tolling Agreement has been in place while the City and Sentinel Peak Resources (SPR) have continued discussions to explore options with respect to the Oil Termination Ordinance that are mutually agreeable to both parties in an effort to avoid litigation. (See City’s website for further detail regarding the background of the Ordinance and Tolling Agreement.)
At its November 14, 2022 meeting, the City Council will receive a report on the status of its discussions with SPR. More information will be available upon posting of the November 14th Council Meeting Agenda, including the staff report for this item.
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