PDCE - Colorado commission advances largest U.S. setbacks for oil and gas wells

The Colorado Oil and Gas Conservation Commission votes for preliminary approval of 2K-ft. setbacks for new oil and gas wells, in what could be the largest statewide drilling setbacks in the U.S.; a final vote on the rule is expected in early November.The requirement comes with exceptions that could in practice result in shorter setbacks in certain cases, including when topography or technology can provide comparable protections at a shorter distance.[[PDCE]] -2.9%, [[OXY]] -4%, [[BCEI]] -3.4%, [[NBL]] -3.6%, [[DCP]] -1.6%.Industry representatives say the setbacks will devastate the oil and gas industry because it will severely limit where companies could drill, which would cascade across Colorado's economy.Stifel analysts estimate ~30% of PDC Energy's Colorado acreage has exposure to urban areas.

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Colorado commission advances largest U.S. setbacks for oil and gas wells