Oil glut ends tri-county drilling expansion

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By Marissa Nall / Friday, June 5th, 2020 / Comments Off on Oil glut ends tri-county drilling expansion

Sustained low oil prices have brought costly new oil extraction proposals in Santa Barbara County to a halt. Aera Energy abandoned its plan to develop hundreds of new wells at the East Cat Canyon field, the second development project to be pulled as crude prices have stayed near $30 a barrel. “There’s just so much…

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