Carbon California Overview
Carbon California was formed in 2016 by Carbon to acquire producing assets in the Ventura Basin of California. As of December 31, 2017, Carbon California has completed acquisitions comprising approximately 13 million barrels of oil equivalent. Carbon is the manager of Carbon California and has a 56% ownership interest.
- Exploration and production companies are divesting California oil and gas producing assets. This creates an opportunity for Carbon California to acquire producing assets, build on existing operations and consolidate a Ventura Basin position
- Carbon California has identified the Ventura Basin of California as an area which presents an opportunity to establish a portfolio of light oil, low operating cost properties
- The acquired properties exhibit low decline, long-life reserves with minimal capital maintenance requirements and a large inventory of development projects