By OGJ editors
HOUSTON, July 10 -- Pacific Energy Resources Ltd., Long Beach, Calif., reported on plans to buy 71% interest in Beta oil field 9 miles off Long Beach, Calif., from Aera Energy LLC, Bakersfield, Calif.
Beta field is in the San Pedra area. The transaction involves three leases including Eureka and Ellen platforms and the Elly facilities platform.
Proved reserves are estimated at 19.78 million bbl of oil and 3.23 bcf of gas as of May 1. Probable reserves are estimated at 11.61 million bbl of oil and 1.93 bcf of gas.