Seneca Resources' West Coast Division was established in 1987 when the company acquired several properties from Argo Petroleum in Ventura County, Ca.
In 1998, Seneca expanded its base into Kern County, Ca. by acquiring the HarCor, Whittier and Bakersfield Energy companies and, most recently, Ivanhoe Energy USA in 2009. The acquisition of these four companies now represents a majority of Seneca's production for the West Coast Division. Seneca's West Coast operations are focused on development of these properties along with seeking acquisition of low-to-moderate risk properties throughout all the major producing basins in California. Since 1998, Seneca has continued to exploit its California holdings by optimizing lifting costs and drilling more than 700 new wells.
The West Coast Division fields have long life, predominately oil producing reserves, with low decline rates and low operating costs. As such, these assets provide a solid base and strong cash flow for Seneca's overall growth-seeking efforts in California and throughout other operating regions of the company.