Occidental Petroleum Corporation (OXY), Plains Exploration & Production Company (PXP), and California’s Dreams of an Oil- and Gas-Free Future

Heckmann Corporation (NYSE:HEK) is a leading player in the fluids-management area, and with its recent acquisition of Power Fuels — centered almost solely in the Bakken oil play — it seeks to become a one-stop shop for environmental services. It noted declining levels of activity in the Bakken last quarter, though a lot of that has to do with greater efficiencies realized. That suggests California might have been able to capitalize on the opportunity if a slowdown did manifest itself.

California dreamin’
There are still more lawsuits in the pipeline on other acreage because leases were granted by BLM under the same “flawed analysis,” according to one of the environmental groups challenging the process. Those are much larger in size, and if similar decisions are handed down, it seems California and Occidental Petroleum will only be able to dream about what might have been.

The article California Dreaming of an Oil- and Gas-Free Future originally appeared on Fool.com and is written by Rich Duprey.

Fool contributor Rich Duprey has no position in any stocks mentioned. The Motley Fool owns shares of and has options on Heckmann.

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