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Infocast to Host Californian Oil Summit, Insight into Monterey Shale's Potential Yield of Billions of Oil

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U.S. Federal Government Scheduled to Auction to Lease Parcels of Monterey Shale for Drilling

Woodland Hills, CA (PRWEB) October 29, 2012

Infocast, the leading business intelligence and networking events producer in the oil and gas industry, is set to host Californian Oil: Unlocking the Golden State's Shale Resources on December 4-5, 2012 in Los Angeles, CA.

The San Francisco Gate recently reported that the U.S. federal government is scheduled to hold an auction to lease out parcels of the Monterey Shale to oil and gas companies this December. The lease sale on the Monterey Shale formation is the second to happen in a year.

Although there is a rising battle among environmentalists, politicians and the energy industry over the drilling technique of hydraulic fracturing, the environmental consulting firm Cardno ENTRIX released a report this month, “Hydraulic Fracturing Study: PXP Inglewood Oil Field,” that concluded fracking could be done safely.

The Monterey Shale formation has the potential to yield billions of barrels of oil and could be the greatest thing to hit California since the Gold Rush. The reservoir could greatly reduce California's dependence on foreign crude, providing jobs along the way. However, with this comes a lot of uncertainty, especially with California's strict-permitting, air and water regulations currently in place.

The potential for profit in this play is huge, which is why Infocast's Californian Oil is a must-attend event. It is designed to bring together all the biggest players in the industry. The Californian Oil summit is an opportunity to meet and network, as well as dig into the issues and brainstorm solutions for today's shale land rush in California.

For more information, to register for the summit or to participate as a speaker or sponsor, visit the event website at infocastinc.com/californianoil12 or contact Infocast Events at (818)884-4444.

About Infocast

For over 25 years, Infocast has produced high quality events tailored to the needs of the various industries they serve. Infocast conducts intensive research on the marketplace, pulling from an extensive network of experts and leaders, to give you the information and connections to succeed.

For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/10/prweb10063957.htm

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