Important hearing for HB 17-1124 at Colorado State Capitol — Feb. 22
Legislators in Denver have proposed a bill that would require a local government that interferes with oil and gas operations in Colorado to compensate oil and gas operators, mineral lessees and royalty owners for all costs, damages and losses from the interference.
The Colorado Alliance of Mineral and Royalty Owners (CAMRO) sent out a request today asking oil and gas operators, lessees and royalty owners to attend a hearing at the Colorado State Capitol at 1:30 p.m. MST tomorrow, February 22, 2017.
The hearing concerns HB 17- 1124, introduced on Jan. 26, 2017, which specifies that operators, lessees and mineral/royalty owners be compensated for loss of use or production as a result of a local government ban or moratorium on oil and gas development.
“The bill specifies that a local government that bans hydraulic fracturing of an oil and gas well is liable to the mineral interest owner for the value of the mineral interest and that a local government that enacts a moratorium on oil and gas activities shall compensate oil and gas operators, mineral lessees, and royalty owners for all costs, damages, and losses of fair market value associated with the moratorium,” according to the bill summary at the Colorado General Assembly website.
Hearing Location: House State, Veterans, and Military Affairs, Room 271 – 2nd Floor of Capitol, between the elevators.
Time: 1:30 p.m. MST
Date: Wed. Feb. 22, 2017
