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Groups behind Colorado Prop. 112 want new governor and legislature to change oil and gas commission; soliciting public support for petition Anti-oil and gas industry factions have already sprung out of the gates in 2019 by asking Colorado’s newly elected state legislature and its new governor-elect to reboot the mission of the state’s oil and gas regulator. As it reads[Read More…]
Jury slams Texas frac company with $100-million verdict, M&A deals proliferate, and Colorado oil and gas flirts with a setback disaster: 2018’s most read stories In addition to Oil & Gas 360’s coverage of oil and gas company financial and operating results, shifting C-suites, global industry trends, new technologies, and OPEC+, readers were alerted each day to most-read industry stories in[Read More…]
Colorado: governor-elect’s transition committee with green energy focus has one former oil and gas exec Last Saturday, Colorado governor-elect Jared Polis’s transition team hosted a town hall meeting in the form of a telephone conference call. Comments that came out on the call offer a glimpse into the next governor’s energy priorities for Colorado. The governor-elect was not present on[Read More…]
Now that a final tally of votes is complete, it’s clear that the highly contested ballot proposal that would have imposed a chokehold 2,500-foot setback rule on new oil and gas drilling in Colorado was closer to being adopted than the initial vote count indicated immediately after the election. According to the Colorado Secretary of State’s Nov. 28 update of[Read More…]
Climate organizations hiring full-time professionals for next salvo against oil & gas industry in Colorado National climate groups, which were the strong forces behind the Prop 112 ballot initiative that was intended to shut down new oil and gas drilling in Colorado, are already ramping up preparation efforts for the 2020 election cycle. While 112 was defeated at the 2018[Read More…]
Colorado oil and gas companies breathe a sigh of relief – and their share prices respond Turns out DCP Midstream CEO Wooter van Kempen’s ‘glass more than half full’ philosophy was prophetic. During his company’s Q3 conference call yesterday van Kempen made multiple predictions as to the fate of 112 and he repeated his faith in Colorado voters in response[Read More…]
Colorado ballot count tops 2 million at 2:33 p.m. on election day Graphic: Colo. Sec. of State DCP Midstream (ticker: DCP) is one of the one of the largest producers of natural gas liquids and one of the largest natural gas processing companies in the U.S. DCP has significant gathering and processing operations in the DJ Basin in Colorado. The[Read More…]
Colorado voters could set a mid-term record Here’s how the ballot count breaks down before polls officially opened on election day, according to the Colorado Secretary of State’s ballot count report as of 12:34 a.m. Nov. 6, 2018: DEMOCRAT BALLOTS RECEIVED: 625,650 – 34% REPUBLICAN BALLOTS RECEIVED: 618,922 – 33% UNAFFILIATED BALLOTS RECEIVED: 584,560 – 32% GRAND TOTAL RECEIVED: 1,853,103[Read More…]
With 1.5 million ballots turned in, the split between the Yes and No vote in an ‘Educated Guess Scenario’ for Prop 112 has closed to two-tenths of one percent The Colorado Secretary of State published the latest ballot count this morning, with two days left to vote. 1.5 Million Ballots are In: Fate of Colorado Oil & Gas Development Will[Read More…]
“It’s a shame that we have to go to such lengths to defend our rights to produce a product that is beneficial to every individual’s life” – Lynn Peterson, CEO, SRC Energy As most companies active in Colorado will report before the election, investors are attempting to assess the potential effects of the measure when talking to executives during conference[Read More…]
An ‘educated guess scenario’ puts Colorado Prop 112 in the ‘fail’ column—by four-tenths of 1% Frac site in the Wattenberg field – northern Colorado. The Colorado Secretary of State’s ‘ballots received’ count topped one million as of today’s ballot count report, with six days remaining for voters to turn in their ballots. Colorado Secretary of State Wayne Williams reported Thursday[Read More…]
Ballots counted are rising: Colorado Sec. of State reports 801,000 ballots have been received to date – Dems and Republicans close gap to within 1,000 of one another – one week remains With only one week to go before final results are tallied, the Colorado Oil and Gas Conservation Commission’s (COGCC) regular meeting on Oct. 29 provided a public platform[Read More…]
If both 112 and 74 succeed at the booth, then … In a recent University of Colorado-sponsored online poll, 63% of Colorado voters who responded said they would vote ‘yes’ on Amendment 74. That’s the measure being voted on now throughout Colorado which would require state and local governments to compensate property owners for fair value when government regulations or[Read More…]
If Proposition 112 passes and Jared Polis is elected governor, what might be in store for Colorado oil & gas development in the years ahead? If Colorado voters follow suit with the results of a recent University of Colorado-backed online poll, a long-lasting and painful punch could be landed directly on the jaw of Colorado’s oil and gas industry in[Read More…]
Both sides of 112 are advertising on Spotify as ballots are being delivered The advertising messages to vote ‘No on Prop 112’ are everywhere you look and listen on Denver area TV and radio. The stakes are high for the oil and gas industry and its workers if Proposition 112 passes. Proposition 112 is the 2018 citizen-initiated ballot initiative backed[Read More…]
Colorado Democratic party platform officially endorses both the 2,500-foot statewide drilling setback and the Martinez ruling for Colorado oil and gas permitting Candidate Polis seeks 100% renewable energy for Colorado, no fossil fuels Stapleton: ‘I would pursue every redress possible for that job-killing measure’ In the 2018 election season’s first gubernatorial debate, hosted by Denver TV station CBS4 on October 5th,[Read More…]
It’s shaping up to be the power of advertising vs. the power of personal phone calls. At least that’s what the two opposing forces are doing to promote their polar opposite views of Proposition 112 as voters begin to think about what will be on their mail-in ballots which will begin to arrive in mid-October. Election day is Nov. 6.[Read More…]
Upcoming TV debate showcases thinking on both sides of the setback issue There is a storm cloud of potential upheaval facing Colorado’s oil and gas regulator (the Colorado Oil and Gas Conservation Commission—COGCC) this fall. On the leading edge is a contentious ballot issue that’s going to be in front of voters between mid-October and Nov. 6. Proposition 112 is[Read More…]
Colorado oil and gas regulation: is the State’s task to balance oil & gas development with public health, safety and welfare? Colorado’s high court will soon hear oral arguments in a case whose outcome could reshuffle the criteria the COGCC must use in granting permits to drill oil and gas wells Fall of 2018 will be remembered as the season[Read More…]
Setback measure named Proposition 112 on the Nov. ballot Friday Sept. 7 was one of the upcoming deadlines on the life path of initiative #97—the 2,500-foot mandatory statewide oil and gas setback. That was the last day for designated representatives of an initiative petition to withdraw the petition from consideration by filing a withdrawal letter with Secretary of State. This[Read More…]
A deeper look at initiative 97 If Colorado voters choose to stop drilling by passing initiative #97 on Nov. 6, the economic ramifications are deep – Colorado governor has no veto power over the measure Nine weeks from today Colorado’s voters will have the opportunity to vote ‘Yes’ on a measure that will essentially shut down new drilling, workovers and[Read More…]
It’s a scenario that could possibly send oil and gas reserve values toward $0 and start an exodus of energy companies, capital investment and high paying jobs from the state From “theoretical to real” in a day The threat to the oil and gas industry posed by initiative 97 [EDITOR’S NOTE: INITIATIVE 97 WAS RENAMED PROPOSITION 112 ON THE COLORADO BALLOT] went[Read More…]
Colorado Secretary of State Wayne Williams announced that the setback measure for oil and gas development has qualified to be on the November 6 statewide ballot. The measure would mandate that new oil and gas development, including fracing, be a minimum distance of 2,500 feet from occupied buildings, waterways and other areas designated as “vulnerable.” Backers of Initiative 97 submitted signatures[Read More…]
2018 Colorado ballot initiative requiring 2,500-foot drilling setback, or higher, is in the state verification queue: 6 business days till verification deadline Even though the Colorado Secretary of State hasn’t yet announced the signature verification count for initiative 97, which calls for a mandatory 2,500-foot setback for new oil and gas operations, advertising aimed at convincing voters not to vote[Read More…]
After two years of public comment and revisions, Extraction will be allowed to drill in Broomfield–but will Colo. voters stop it in November with positive setback vote on 97? Extraction Oil & Gas (ticker: XOG) got the news this week that its Comprehensive Drilling Plan (CDP), dated July 27, 2018, was conditionally approved by the City and County of Broomfield,[Read More…]
Initiative 97 imposes a mandatory statewide minimum 2,500-foot drilling setback, also cedes power to local governments to increase setbacks This is the final week for environmental activist groups 350.org and Colorado Rising to gather signatures for Colorado ballot initiative 97. It’s the initiative that asks voters to change existing state law to impose a 2,500-foot setback on new oil and[Read More…]
Extremely well-organized ‘keep it in the ground’ groups tell like-minded voters exactly what to do to get initiative 97 on the ballot, what to say at the COGCC hearing “We’re calling on the COGCC to prioritize public health and safety over profit – and to get on the right side of history” – 350 Colorado campaign promoting initiative 97 Campaign[Read More…]
Of the 7 million acres of non-federal land in Colorado’s top oil and gas producing counties, proposed initiative #97 would exclude 6.5 million acres from drilling and development An estimated 54% of Colorado’s total land surface would be unavailable for new oil and gas development by adopting the buffer zone setbacks and federal land exemption proposed by initiative #97, according[Read More…]
[EDITOR’S NOTE: this is the final installment of the OAG360 story in which Helen El Mallakh, director of the International Research Center for Energy and Economic Development (ICEED), discusses the changing political scene and the shifting geopolitical sands that are challenging the balance of oil producers in the Middle East. El Mallakh was keynote speaker at the Energy Finance Discussion[Read More…]
“The Middle East shapes energy politics, energy crises, and it has a huge impact on geopolitics” – Helen El Mallakh Ahead of the upcoming 174th OPEC meeting in Vienna, Austria, (scheduled for Friday, June 22, and immediately followed by the fourth OPEC/non-OPEC ministerial meeting Saturday), Helen El Mallakh, director of the International Research Center for Energy and Economic Development (ICEED)[Read More…]
EERC drops sharply EnerCom has released its latest Effective Rig Count, linking the state of drilling activity and the reported production from the major shale basins. The Effective Rig Count dropped by 83 in December, meaning the effective rig count now stands at 2,762. This means that the new production in December would have required 2,762 rigs from January 2014[Read More…]
