California oil and natural gas permits for well abandonments to date this year are twice the number of new drilling permits being sought, according to regulators.

Monthly California Production

The California Geologic Energy Management Division (CalGEM) said it has received the lowest number of well stimulation permit applications since late 2016 when state Senate Bill 4 took effect. Forty-eight permits had been approved, with six denied and 248 pending third-party review.

CalGEM earlier this year issued its first well stimulation permits. Total new permits approved in the first half of the year versus a year ago were up 7%, but new wells drilled were down 90%.

Last year there were 1,475 new drilling permits and 302 completed wells, and this year the permits totaled 1,579, with 30 wells completed. During...