Bridge Energy’s business strategy is to acquire oil and gas facilities and upgrade or convert the facilities to minimize and possibly eliminate environmental impacts. Bridge Energy believes that many old oil and gas fields can be “repurposed” to a mixed and potentially better future use. Similar to updating old real estate assets to a “new and better” use. With that purpose in mind, Bridge Energy purchased the iconic Brea Olinda oil and gas field in the LA Basin in 2017. The field was discovered in 1885 and has produced oil and gas continuously for over 135 years.
The Brea Olinda field operations currently produce oil and gas with one of the lowest carbon intensity footprints “CI” in California and the world (see footnote). For comparison, other oil and gas producers have a carbon intensity footprint that varies from as low as 3.5 “CI” units per bbl of oil, to the highest “CI” of 36 units (“CI” = 3.59). The Brea Olinda Field is currently the lowest “CI” in CA (“CI” = 3.59). To accomplish that, the entire field operates on a pressure vacuum with all production facilities on vapor recovery. In addition, Brea Olinda Field is monitored continuously as well as inspected without notice by CA regulators from the AQMD and Cal Gem.
Bridge Management believes that if we are going to continue to use fossil fuels for any period of time, we should produce in the US from facilities with the lowest environmental impacts possible. Unfortunately, the US currently buys from places like Iran, Venezuela, Russia, & the Middle East, etc. These producers are a huge security risk as well as the oil bbls produced overseas have a higher carbon intensity “CI” footprint then oil bbls produced at our Brea Facility. (Iran “CI” = 10-14; Russia “CI” = 7-17; Venezuela “CI” = 10-29). Bridge Energy is very proud of what has been accomplished at Brea Olinda. Bridge Energy is producing the cleanest oil bbls produced in the world, and is moving towards a negative emissions footprint.
