The Commission has prepared a preliminary cost study on the fiscal impact of voluntary relinquishments of existing offshore oil and gas leases.
The study is required by AB 2257, which was enacted after the 2021 Huntington Beach oil spill. The Commission must submit a final cost study to the Governor and Legislature by December 2024. The preliminary cost study estimates (1) the expected remaining life of leases; (2) reasonably anticipated future profits and revenues; (3) state revenue to date; (4) the expected remaining life of the reservoirs; and (5) decommissioning and restoration costs.
- 2023 Preliminary Status Update
- Public comment(s) submitted (12/15/23)
- Staff Report 61 (12/05/23)