Central Coast oil platform sets new record
April 17, 2010
Exxon Mobil’s Santa Barbara facility set a new record for slant drilling from an oil platform off the coast of Santa Barbara, bringing to the forefront tensions between those in favor of local oil exploration and those opposed to off shore drilling. [PacificCoastBusinessTimes]
On April 16, Exxon announced that it had drilled more than six miles horizontally for a total reach of more than seven miles, from a platform located off the coast of Gaviota. Because of new technology, the company is slated to produce an extra 5.8 million barrels of oil from three area platforms, which have produced 450 million barrels of oil since 1981.
Meanwhile, a group of environmentalists are pushing to revive a deal with Plains Exploration & Production Co., to remove an off shore processing plant. If they are successful, new oil companies which would have to build their own facilities which would increase cost and prohibit some from drilling.
Researchers report there is as much as 3.4 billion barrels of oil off the central coast, according to research by Tom Bjorklund, a professor at the University of Houston. Slant drilling opens up the procurement of these reserves.