Aera Energy covers a large area of California. The state's leading oil and gas producer (accounting for about 25% of California's total production), Aera Energy's properties extend from the Los Angeles Basin in the south to Coalinga in the north. It has daily production of 130,000 barrels of oil and 37 million cu. ft. of natural gas and boasts proved onshore and offshore reserves of about 720 million barrels of oil equivalent. Aera Energy also has interests in real estate operations (in partnership with homebuilder Toll Brothers). The exploration and production company is a joint venture of affiliates of Exxon Mobil (which own 48%) and Royal Dutch Shell (52%).
Aera has large producing fields in Kern County, including North and South Belridge, Midway Sunset, Lost Hills, Cymric, and McKittrick and additional onshore California fields near Coalinga, San Ardo, and Ventura in Monterey and Ventura counties.
Most of Aera Energy's exploration and production is focused on half a dozen fields in the San Joaquin Valley, where it operates more than 15,000 wells. The company's heavy oil production comes from Kern County.
Coalinga operations produce 7,000 barrels of heavy crude oil per day; Midway Sunset fields, 24,100 barrels; and San Ardo, 9,200 barrels. The company's Ventura oil and gas operations average 14,000 barrels of crude oil per day and 7.7 million cu. ft. per day of natural gas. Oil is transported to refineries in the Los Angeles basin while natural gas is shipped to Southern California Gas.
Focused in Yorba Linda, Aera Energy's real estate division (a limited partnership with the Toll Brothers) is developing a 3,600 home master-planned community on a 4,000 acre tract (including 840 acres of upscale homes) in Los Angeles and Orange counties. The company plans to make more of this land available to real estate development activities as it phases out oil and production in the Huntingdon Beach area.
On the environmental front, Aera Energy also works with California Department of Fish and Game to maintain the 6,059-acre Coles Levee Ecosystem Preserve (20 miles southwest of Bakersfield).
A leader in heavy oil reservoir development, Aera Energy combines engineering expertise, efficient processing operations, high-quality data, and innovation to boost the output of the mature fields in which it operates.
In 2013 Zodiac Exploration, a Canada-based oil and gas exploration and production company under contract by Aera, announced the successful spudding of an Aera well in the San Joaquin Basin. Aera will cover 100% of a costs for this first well, plus further wells (a vertical well and two horizontal wells).
Aera is controlled by affiliates of Exxon Mobil and Royal Dutch Shell.
The company, which began operating in 1997, develops the California exploration and production assets previously owned by former Shell Oil affiliate, CalResources LLC, Mobil Exploration & Producing U.S. Inc. (now an Exxon Mobil affiliate), and ARCO.