The Latest Breaking News from Aera Energy

There’s a Reason Oil Well Sales Are Collapsing In California: Cleanup Costs

Faced with putting up hefty bonds to clean up their mess, operators are instead taking a pass on selling off dying wells.

Capital & Main · Nov 20, 2024

California Isn’t Enforcing Its Strongest-in-the-Nation Oil Well Cleanup Law on Its Largest Oil Company

State regulators could have asked oil companies California Resources Corp. and Aera Energy for an estimated $2.4 billion to guarantee wells are plugged but decided they didn’t have the authority to do so.

Capital & Main · Jul 24, 2024

Will California’s Largest Oil Well Owner Get a Pass on Paying to Clean Up Its Mess?

A new state law mandates that oil companies put up money to plug wells before acquiring them. It could fail its first big test, putting taxpayers on the hook.

Capital & Main · Jun 18, 2024