An oil and gas advocacy group is warning Colorado taxpayers they could face billions of dollars in compensation claims if voters approve tough new restrictions on where wells can be drilled. The Colorado Alliance of Mineral and Royalty Owners (CAMRO), which represents individuals and corporations that own oil and gas rights, wants to kill a proposal that would increase the minimum distance between new wells and occupied buildings to 2,500 feet. The current minimum is 500 feet. The industry’s latest effort came June 12, when CAMRO released a commissioned cash-flow analysis of untapped minerals in Colorado’s Wattenberg Field. The study valued future oil and gas production at nearly $180 billion — $26 billion of which would come in royalties for...
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Study Says Untapped Front Range Oil, Gas Worth Nearly $180 Billion, Blasts New Drilling Restrictions