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File #: 23-400    Version: 1 Name: Update re Oil Termination Ordinance and Approval of Proposed Settlement Framework
Type: Minute Order Status: Action Item
File created: 11/6/2022 In control: City Council Meeting Agenda
On agenda: 11/14/2022 Final action:
Title: 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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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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