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CC - ACTION ITEM: (1) Report on Discussions Between the City and Sentinel Peak Resources Related to the Oil Termination Ordinance, Status of the Tolling Agreement and Implementation of the Ordinance; and (2) Approval of a Proposed Settlement Framework with Sentinel Peak Resources Related to the City's Oil Termination Ordinance.
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Contact Person/Dept: Heather Baker, City Attorney;
Melanie Doran Traxler, Contract Project Manager
Phone Number: (310) 253-5660
(818) 248-7158
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Attachments: Yes [] No [X]
Commission Action Required: Yes [] No [X]
Public Notification: (E-Mail) Meetings and Agendas - City Council (11/09/2022); Culver City News and Events (11/04/2022), Stay Informed - Inglewood Oil Field (11/04/2022); Stay Informed - Sustainability and Environmental Issues (11/04/2022), Sentinel Peak Resources (11/04/2022); and (Mail) Inglewood Oil Field Property Owners (11/09/2022).
Department Approval: Heather Baker, City Attorney (11/09/2022)
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RECOMMENDATION
Staff recommends the City Council (1) receive a report on discussions between the City and Sentinel Peak Resources ("Sentinel") related to the Oil Termination Ordinance ("Ordinance"), status of the tolling agreement and implementation of the Ordinance; and (2) approve a proposed settlement framework with Sentinel related to the Ordinance.
BACKGROUND
On October 25, 2021, the City Council adopted the Ordinance, by a 3-1 vote with one abstention, which effective as of November 24, 2021, prohibits the drilling of any new or redrilling of any existing oil wells and further requires the phasing out, plugging and abandonment of all existing oil and gas wells and restoration of affected areas by no later than November 24, 2026. The Ordinance applies city-wide, including within the Culver City portion of the Inglewood Oil ...
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