While the Carrizo Plain is dotted with dry holes drilled and abandoned by oil companies in decades past, no commercially viable quantities of petroleum have ever been found on the plain itself. Small quantities of drillable oil have been found south of the Caliente Range, near the Russell Ranch Oil Field, and in the northeast part of the Temblors, abutting the giant McKittrick and Cymric fields. As the plain is adjacent to the super-giant oil fields of Kern County - the Midway-Sunset Oil Field, third largest in the United States, is on the other side of the Temblor Range - the Carrizo Plain has long been considered to have at least a moderate potential for oil development. However, as it is separated from the major oil fields by the San Andreas Fault, and the underlying source rock, the Monterey Formation appears not to have been buried at the right conditions of temperature and pressure, and as the stratigraphy has not favored petroleum entrapment, accumulations of oil in economically recoverable quantities have not been found. Currently, Vintage Production, a subsidiary of Occidental Petroleum, owns the mineral rights to 30,000 of the monument's . When oil prices spiked in 2007, Vintage notified the U.S. Bureau of Land Management of its intentions to find out if oil is contained in the Carrizo Plain. The mineral rights owned by Vintage pre-exist the monument's creation by President Bill Clinton in 2001.