Bakersfield-based Aera Energy LLC, the state s second-largest oil producer, is being acquired by local competitor California Resources Corp. in an all-stock transaction valued at $2.1 billion, the companies announced Wednesday.
California regulators haven't approved permits for the controversial oil and gas extraction process known as fracking since February, effectively phasing
This year, California's Geologic Energy Management Division rejected about 109 fracking licenses. Since February, California authorities have refused to authorize licenses for the controversial oil and gas extraction process referred to as fracking, effectively getting rid of the process prior to Gov. Gavin Newsom's 2024 deadline to put a stop to it.
SACRAMENTO, Calif. (AP) — California regulators haven t approved permits for the controversial oil and gas extraction process known as fracking since February, effectively phasing out the process ahead of Gov.