Colorado governor, oil companies hope to thwart drilling ballot measures

|By:, SA News Editor

Colorado Gov. Hickenlooper and business leaders say they will do “whatever it takes” to defeat initiatives proposed for fall elections that would restrict oil and gas drilling generating $30B/year for the state economy.

Hickenlooper is trying to head off a ballot measure that would prohibit drilling within 2,000 feet of structures, a step energy companies say would effectively ban fracking in the state; another proposal would provide communities with more control over where drilling takes place.

Anadarko Petroleum (NYSE:APC), Whiting Petroleum (NYSE:WLL) and Encana (NYSE:ECA), which are drilling in the Denver-Julesburg Basin, one of the nation’s richest oil and gas fields, said this week they will spend $50M to fight the measures.