TRANSFER OF OWNERSHIP OF STINNETT WELL #1  FROM MACPHERSON OIL COMPANY TO THE CITY OF HERMOSA BEACH

Recommendation:

1. That the City Manager be designated as "agent" and that the City supply the required bond; and,
2. That the City Manager be directed to begin the process of abandoning the well.

Background:

The Macpherson Oil Company notified the City that it no longer needed the well and was returning responsibility for it to the City. The next step in order to obtain ownership and begin the removal process is to authorize the designation of an "agent" and provide a bond. The agent is the contact person for the Division of Oil and Gas. The bond will cost around $150.00 per year. Once these steps are completed, we will be able to proceed with removal of the well.

In addition, as part of the abandonment, the United States Geological Society would like to do a temperature study. This takes one day and is part of an ongoing study relating to earthquakes. This effort would be coordinated with the actual abandonment.

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