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Greka focuses on petroleum extraction and asphalt processing in California, with holdings in Santa Barbara, Ventura, Kern, and Orange Counties. It is the largest onshore oil operator in Santa Barbara County. In 2008, after several oil spills, the company was referred to by state and federal officials as "California's number one inland oil ...
Vintage Petroleum, then a separate company, purchased the field from Texaco in 1995 during a period in which the major oil companies were divesting many of their onshore California operations and selling them to smaller operators. Greka bought the field from Vintage in August 2002, and remains the principal operator as of 2011, though now under ...
Greka was formed in 1999 after the merger of two publicly traded companies, Saba Petroleum Company and Horizontal Ventures. In May 2003, Greka chairman and chief executive officer Randeep S. Grewal formed Alexi Holdings Ltd. to effect a reverse merger with Greka, taking the company private. Prior to the buyout, he held a 14.3% stake in the company.
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Oil viscosity and quality from the field is widely variable. Greka's lease produces mostly heavy oil, with an API of around 13 and a high sulfur content, which it uses either as feedstock for its asphalt refinery in Santa Maria (when the price of oil is low) or sells on the open market (when the price is high). [5]
Cat Canyon Oil Field circa 1910-1912, showing Palmer Oil Co., oil derricks, newly constructed worker housing and other facilities. As of the beginning of 2010, there were 243 active oil wells on the field, with another 727 shut in. The West Area had the most active wells, with 99, followed by the Sisquoc Area with 64 and the Gato Ridge Area ...
Total revenue of oil and gas companies is listed in billions of U.S. dollars. Total revenue is usually self-reported by the company, and often reported by neutral, unbiased, reliable publications. Reported data may be subsequently revised or restated due to a wide range of issues such as exchange rates, contract settlements, or mid-year ...
SEKA (oil company) This page was last edited on 1 July 2020, at 01:18 (UTC). Text is available under the Creative Commons Attribution-ShareAlike 4.0 ...
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