Steve Davis Discusses the Future of Development in the Monterey Shale
Akin Gump energy partner Steve Davis is quoted in the Law360 story “Calif. Fracking Rules may Curb Monterey Shale Rush, For Now,” which looks at the impact of recent actions by lawmakers and regulators in the Golden State to rein in hydraulic fracturing, also known as fracking.
Davis says a proposed moratorium on fracking “will have a chilling effect on the appetite of the oil and gas industry to pursue further opportunities in the Monterey shale and other potential shale formations in California.” That said, he does not think it will kill off interest entirely.
As for whether any ban on fracking will drive away developers, Davis says that will be up to each individual company to decide. “In some cases,” he says, “the larger companies have the luxury of walking away, knowing they have the ability to come in later and buy companies that are already operating in the Monterey shale.”