Boulder County, Colorado, on June 28 halted accepting new oil and gas drilling and seismic testing permits for nine months, the latest community in the state to enact measures aimed at curbing oil and gas production.
Colorado is the fifth largest oil producing state, according to the U.S. Energy Information Administration (EIA). This year Colorado lawmakers passed Senate Bill 19-181, tightening regulations on the state's oil and gas industry.
Boulder County produced only about 86,000 barrels of oil last year, according to the Colorado Oil and Gas Conservation Commission (COGCC). By comparison, Weld County, a major drilling area north of Denver, produced 157 million barrels of oil last year.
Closely-held oil producer Crestone Peak Resources LLC has pending drilling permits for Boulder County with the Colorado, according to COGCC. The company could not immediately be reached to comment.
Russia should not unleash an oil price war against the United States but rather stick with output cuts even at the cost of losing market share in the medium term, one of the main Russian architects of a production pact with OPEC said.
The credit can be a significant source of cash and key to funding expensive innovation projects.
Gains are reined in by fears of a slowing Chinese economy.