Formby's Labour Councillors and the town's MP are asking for a meeting with Aurora Petroleum to find out more about their drilling operation near to the town.
The Scottish energy company has started work on harnessing shallow oil reserves in the area.
Searching has already begun at the old oil field on Downholland Moss Lane.
Planning permission was granted to the company for them to drill four shallow boreholes.
Cllr Nina Killen said MP Bill Esterson and the town's three Labour Councillors have contacted the company.
Cllr Killen said: "We have requested a meeting with Aurora Petroleum so they can give us more information on their operation in Formby.
"If their operation is conventional drilling only, the big concern is the impact on the local environment.
"We want to see their plans and their impact assessment so we know that the operation is not going to be damaging to the surrounding environment."
Cllr Killen said she wanted to make sure that the local community benefits.
Cllr Killen said: "The drilling is operating in our community. Our community needs to see the benefit.
"This includes any jobs created because of the work that is going on.
"We would also like to see any money that is made from the oil pumped back into the local economy."
Bill Esterson said he wanted to ensure that the interests of his constituents are being served.
Bill said: "Working together with the local councillors, I want to make sure that any operation of this kind is in the interests of the people of Formby.
"I also want to ensure that the operation is not detrimental to the local environment in Formby.
"By requesting a meeting with Aurora, the Formby Labour Action Team wants to see what future plans the company has for the area."