Abstract: Site Redevelopment Strategies for Dormant Oil and Gas Facilities

DADDARIO, DAVID, North American Realty Advisory Service, LP Lawrence Livermore Nat. Livermore Nat.

Removing environmentally-impaired land and building assets from the corporate balance sheet can provide significant returns to oil and gas companies. However, environmental clean-up costs, as well as regulatory, political, and community issues can be stumbling blocks. New tools and methods are now available to resolve "distressed" site redeployment issues. Plus, federal and state regulators are now helping to streamline the environmental approvals' process for contaminated properties with redevelopment potential. This session will address the latest techniques to uncover redevelopment opportunities and:-reduce cleanup costs and minimize environmental liabilities;-manage regulatory issues and community affairs-structure and close optimum transactions.For example, in California several oil terminal and refinery sites have recently been repositioned in the marketplace for productive new uses. The key to moving these projects ahead was in coordinating the site reuse opportunities with remediation plans and effectively communicating the objectives to regulators, developers and communities. Case studies will be used to illustrate how corporations are succeeding in redeploying distressed assets.

AAPG Search and Discovery Article #90911©2000 AAPG Pacific Section and Western Region Society of Petroleum Engineers, Long Beach, California