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California land opens up to oil and gas transactions

| Oct 15, 2019 | Oil And Gas Transactions |

Oil and gas can offer lucrative opportunities for individuals interested in the drilling industry. Of course, it can be complicated to lease land in order to drill, and it is important that any oil and gas transactions are carried out properly. As a result, when individuals hear of land opening up for drilling, they may want to look into their options.

It was recently reported that 725,000 acres in California have been opened up for drilling. The land, which includes parts of the Central Valley and Central Coast, has been off-limits to drilling since 2013, but the Bureau of Land Management recently issued the decision to allow the leasing of plots in those areas. Though the land is open for lease, the BLM indicated that additional approval would have to be obtained before any drilling could occur.

It was noted that this is not the first time that the land has had the potential to be opened for drilling. The previous presidential administration had attempted to open the land but was blocked by environmentalists. Those same environmentalists are criticizing this new decision, and plans are in the works to fight the outcome.

Though some may view this decision as a negative one, others may be ready to obtain leases on the California land. Interested individuals and businesses may have a lot to go through to obtain a plot, and it is wise to have assistance at this time. Parties may want to reach out to attorneys experienced with oil and gas transactions for advice and support.