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Westide Digest

Beverly Hills : Oil Drilling Approved

July 15, 1993

The Beverly Hills City Council has given a Los Angeles oil company permission to drill two new wells beneath the city and to redrill a third from drill sites in Los Angeles.

Stocker Resources, which took over the oil and gas lease from Chevron U.S.A., will drill the underground wells at a slant from a site on San Vicente Boulevard to a depth of 2,300 feet. One new well will terminate at a point beneath the intersection of Dayton Way and Crescent Drive; the second is to be drilled to a spot beneath the intersection of Clifton Way and Elm Drive.

The third well, which last produced oil or gas in 1989, will be partially redrilled from the San Vicente Boulevard site to a depth of about one mile, reaching a point beneath the intersection of Dayton and Crescent.

The city expects to collect nearly $26,000 in application and permit fees for the three wells. In addition, the city will receive $1,236 for the first 10,000 barrels of oil produced and 10 cents for each additional barrel in annual licensing fees for each well. The city also expects to receive royalties from the sale of gasoline, oil and other products from the wells.

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