Broomfield City Council in Bloomfield, Colo., approved a six-month moratorium on new natural gas and oil development in the city, becoming the seventh Colorado community to impose a ban since the introduction of Senate Bill 181 in March. The moratorium passed unanimously on second reading, halting the municipal approval process for energy development until December.
“We are disappointed that Broomfield City Council has chosen to impose a moratorium on new energy development. Its decision is misguided and harmful to our state,” said Colorado Petroleum Council Executive Director Lynn Granger in a statement.
“Our industry prioritizes public health and safety and continues to take proactive measures to ensure that energy development is done safely and responsibly in collaboration with the priorities of Colorado communities. Nothing about Senate Bill 181 has changed our industry’s leadership role in environmental stewardship.
“We have and will continue to stand ready to engage in good faith discussions about Colorado’s energy future. We remain hopeful that Colorado’s local and state governments will do the same as the many elements of Senate Bill 181 are implemented in the months and years to come.”
Anadarko Petroleum was the only corporate deal Occidental Petroleum considered since the company’s current leadership has been in place, says CFO Cedric Burgher.
Pioneer Natural Resources recently divested a small slice of its acreage position in the Midland Basin, which CEO Scott Sheffield said will be the lone survivor of the U.S. shale boom.
Rivals, Occidental and Anadarko Petroleum, had agreed to the transaction, valued at $55 billion (including debt), in May following a bidding war with Chevron.