# Aera Energy: Mineral Owner's Guide to California's Shell-ExxonMobil Joint Venture

**TL;DR:** Aera Energy is a major California oil producer formed in 1997 as a joint venture between Shell (52%) and ExxonMobil (48%). Operating exclusively in California's San Joaquin Valley—particularly in Kern County's Belridge, South Belridge, and Coalinga fields—Aera specializes in enhanced oil recovery techniques like steam flooding to extract heavy crude from mature fields. The company's backing by two supermajor oil companies provides exceptional financial stability and reliable royalty payments for mineral owners.

## Key Takeaways

- **Joint Venture Ownership**: Aera Energy is owned 52% by Shell Oil Company and 48% by ExxonMobil, providing world-class financial backing and technical resources unavailable to smaller independents
- **California-Focused Operations**: Aera operates exclusively in California's San Joaquin Valley, primarily Kern County, including some of the state's largest oil fields like Belridge and Coalinga
- **Enhanced Oil Recovery Specialist**: The company primarily employs steam flooding and other enhanced recovery techniques to extract heavy crude oil from mature, decades-old California fields
- **Financial Stability for Mineral Owners**: Major-company ownership structure ensures reliable royalty payment systems and long-term operational commitment to mature fields
- **Mature Field Considerations**: Production generally trends downward over time in these legacy fields, and heavy oil commands price discounts compared to light crude
- **Local Presence**: Headquarters in Bakersfield, California provides direct access to operations and owner relations in the heart of the operating area
- **Challenging Operating Environment**: Operations subject to California's strict regulatory framework, which can impact development timelines and costs

## Page Highlights

**Company Overview**: Aera Energy was formed in 1997 by combining Shell and ExxonMobil's California operations. As one of California's largest oil producers, the company benefits from supermajor backing that distinguishes it from smaller California independents and provides mineral owners confidence in long-term well operations.

**Primary Operating Areas**: Aera's operations center on the San Joaquin Valley in Kern County, including Belridge Field (one of California's largest), South Belridge (heavy oil production), Coalinga Field (western Kern County), and multiple legacy fields requiring steam flood operations.

**Advantages for Mineral Owners**: Shell and ExxonMobil ownership provides exceptional financial stability, resources to maintain mature fields, reliable major-company payment systems, and a local Bakersfield headquarters presence in the operating area.

**Considerations**: Mineral owners should understand that production in these mature fields generally declines over time, California's challenging regulatory environment can impact operations, and heavy oil receives price discounts compared to light crude benchmarks.

**Owner Relations Contact**: Aera can be reached at 1-661-665-5000, with headquarters at 10000 Ming Avenue, Bakersfield, CA 93311.

## Related Topics

- [California Mineral Rights Guide](https://www.buckheadenergy.com/states/california)
- [California Resources Corp Guide](https://www.buckheadenergy.com/operators/california-resources-corp)
- [Kern County Mineral Rights](https://www.buckheadenergy.com/counties/kern-county)
- [Berry Petroleum Guide](https://www.buckheadenergy.com/operators/berry-petroleum)
- [Top Oil & Gas Operators](https://www.buckheadenergy.com/operators)
- [How to Sell Mineral Rights](https://www.buckheadenergy.com/sell)
- [What Are My Minerals Worth?](https://www.buckheadenergy.com/value)
- [NPRIs Explained](https://www.buckheadenergy.com/resources/npri)

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