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CADIZ INC. ISSUES STATEMENT ON FEDERAL COURT RULING IN CASES CHALLENGING CONVERSION OF FORMER OIL & GAS PIPELINE TO TRANSPORT WATER
LOS ANGELES, Sept. 14, 2022 /PRNewswire/ -- Cadiz Inc. (NASDAQ: CDZI/CDZIP) ("Cadiz", the "Company") announced today that on September 13, 2022, the U.S.
About this update from Cadiz, Inc.
[{"type":"text","content":"LOS ANGELES, Sept. 14, 2022 /PRNewswire/ -- Cadiz Inc. (NASDAQ: CDZI/CDZIP) (\"Cadiz\", the \"Company\") announced today that on September 13, 2022, the U.S. District Court for the Central District of California affirmed its tentative ruling in two cases filed against the US Department of the Interior (\"Interior\") and US Bureau of Land Management (\"BLM\") by the Center for Biological Diversity and National Parks Conservation Association (\"plaintiffs\") challenging the adequacy of the federal review of the two rights-of-ways issued to the Company in 2020 authorizing the conversion of the natural gas pipeline acquired from El Paso Natural Gas (\"Northern Pipeline\") to transport water over BLM-managed lands (approx. 58 miles of the 220 mile pipeline).\n\n \n \n \n \n \n \n\n \nIn its ruling, the Court granted Interior's motion for voluntary remand, sending the permits back to the BLM while the agency considers the scope of environmental review required to approve conversion of the pipeline to transport water over BLM lands. There is a status conference with the Court set for September 26, 2022.\nThe Executive Chair of the Company's Board of Directors, Susan Kennedy, made the following statement regarding the ruling:\nYesterday's ruling will have no impact on completion of the Cadiz Water Conservation and Storage Project and we do not expect additional environmental review by the BLM to cause significant delay. Cadiz' ownership of the pipeline is unaffected by the Court's ruling, and any additional environmental review required by the BLM to convert the pipeline to transport water will be done concurrently with the existing construction schedule.\nFull environmental review of the Cadiz Water Conservation and Storage Project was completed in 2012 with a final ruling issued by the California Court of Appeal in 2016. California Courts have determined the Groundwater Management, Monitoring and Mitigation Plan adopted by San Bernardino County and reviewed under California Environmental Quality Act ensures that the Project will have no adverse environmental impacts. The Company has no concerns with additional environmental review and believes review can be conducted without impeding the construction timeline.\nWhile permits for conversion of the Northern Pipeline are reviewed by federal agencies, the Company will continue with the co...