Belridge Project In 2017, Aera Energy launched its plan to build California's largest solar field in partnership with GlassPoint Solar. This initiative called Belridge Project covers 770 acres and it is constructed to assist the company's oil extraction process and make it more sustainable.
Coles Levee Ecosystem Preserve The Coles Levee Ecosystem Preserve, located about southwest of
Bakersfield, consists of of habitat.6 More than a dozen rare, threatened and endangered birds, animals and plant life can be found in the preserve. The preserve encompasses the last two miles (3 km) of riparian habitat along the
Kern River, where it drains into Buena Vista Lake. Established in 1992 by
ARCO and the
California Department of Fish and Game, the preserve was acquired by Aera in 1998. The preserve is largely riparian habitat and is surrounded by active oil fields (the North Coles Levee Oil Field and South Coles Levee Oil Field, as well as the
Elk Hills Oil Field to the west, operated by California Resources Corporation.7
Real estate development As oil and gas production declines in the
Los Angeles Basin, Aera is planning to develop some property holdings in
Orange and
Los Angeles counties for residential, commercial, and recreation uses while setting aside large portions of its property as natural open space. The company calls this initiative Brea 265, which aims to develop former oil fields into residential areas. The master planned community of Vista Del Verde, Aera's first real estate development, followed the decommissioning and cleanup of the Yorba Linda oil field. The community includes housing, parks, an elementary school, and a city-owned golf course, Black Gold Golf Club. As part of the development, Aera added more than of adjacent, company-owned land to the
Chino Hills State Park, and provided funding for the restoration, enhancement, and maintenance of native habitats within the park. Two additional real estate projects are being planned. The Aera Master Planned Community would develop approximately of company-owned land in unincorporated Los Angeles and Orange counties, approximately where the county line intersects the
Orange Freeway (SR-57). Part of the larger
Brea-Olinda Oil Field, the property has been used for oil operations dating back to the 1890s and cattle grazing operations since the 1850s. Aera is pursuing approvals to develop this property for residential and commercial uses while devoting more than to recreation uses and open space restoration. The project will also preserve and enhance a
wildlife corridor to improve regional open space connectivity. Aera owns a 50 percent interest in approximately known as the Newport Banning Ranch property on the western edge of the city of
Newport Beach. Aera is a participant in Newport Banning Ranch, LLC, which has submitted a proposal to build 1,375 homes, parks, a coastal inn, and a small commercial center on about of the site, while preserving and restoring more than 55 percent of the property for open space and wildlife habitat uses. The project would remove oil facilities and restore the surface of most of the oil operations areas on the property, consolidating the remaining oil operations to two sites totaling about . ==Lawsuits==