Authorize Amendment of Leases No. 3978.1, 4270.1, 7493.1, 8354.1, 8485.1, and 8874.1, to amend the acceptance of a parent guaranty from Occidental Oil and Gas Holding Corporation to California Resource Corporation (CRC) for full performance of obligations under the lease, effective upon the State's receipt of (1) declaration of the United States Securities and Exchange Commission that CRC's Registration Statement on Form 10 is effective; (2) the most recent pro forma balance sheet included in CRC's Registration Statement on Form 10 and declared effective by the United States Securities and Exchange Commission that reflects the net worth (total assets less total liabilities) of CRC o be in excess of One Billion Dollars (US); and, (3) final approval of OPC's Board of Directors.
Suisun Bay; Roaring River SLough and Grizzly Slough at Van Sikle Island; Sevenmile Slough adjacent to Brannan and Twitchell Islands; Tomato Slough at Brannan Island; Old River at Union Island
Notice of Exemption
Type, Section or Code
Reasons for Exemption
Not a project as defined in Section 15378 CCR. [Sec. 15060(c)(3)CCR]
Amendment of Lease for the above-mentioned purpose(s) does not have a potential for resulting in either a direct or a reasonably foreseeable indirect physical change in the environment, and is, therefore, not a project in accordance with CEQA.