Seeking Alpha

Colorado reaches deal to remove anti-fracking initiatives from ballot

Noble Energy (NBL +5.8%) and Anadarko Petroleum (APC +5.3%) spike higher on news of an agreement to remove anti-fracking initiates from the ballot in Colorado.

Gov. Hickenlooper and U.S. Rep. Polis are forming a task force to craft regulations to minimize conflicts over the siting of oil and gas facilities in Colorado; under the proposal, two initiatives aimed at tightening controls would be withdrawn and two initiatives considered pro-industry also would be pulled.

Wells Fargo views the deal as a positive for companies with exposure to the Denver-Julesburg Basin, including NBL, APC, Bill Barrett (BBG +4.8%), PDC Energy (PDCE +10.1%), Whiting Petroleum (WLL +4.5%) and Carrizo Oil & Gas (CRZO +4.3%).

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Comments (6)
  • deercreekvols
    , contributor
    Comments (7245) | Send Message
    Congratulations to Colorado.


    Still waiting for NY governor Andrew Cuomo to lift the fracking moratorium in the Empire State.
    Also waiting for NY governor Andrew Cuomo to sit down with Federal investigators.
    Interesting times in NY.
    4 Aug 2014, 02:35 PM Reply Like
  • Callum Turcan
    , contributor
    Comments (734) | Send Message
    Colorado made the right call. If this had passed it would have been a disaster, but I still think cities and towns that ban fracking shouldn't be able to reap the tax spoils of the shale boom.
    4 Aug 2014, 02:41 PM Reply Like
  • meridian6
    , contributor
    Comments (445) | Send Message
    Load up on PDCE. Up it goes!
    4 Aug 2014, 02:58 PM Reply Like
  • User 353732
    , contributor
    Comments (5124) | Send Message
    Colorado has shown a lot more sense than New York or California, realizing that wealth creates jobs, jobs create income and income benefits all members of Colorado society. Once again the Hollywood, Silicon Valley, Manhattan billionaires have failed to impose their will on Colorado.
    4 Aug 2014, 03:01 PM Reply Like
  • bankstocks
    , contributor
    Comments (1605) | Send Message
    States want to legalize high potency Weed for tax revenues but they don't want to keep fraccing legal for peoples health reasons............ To me it shows the absurdity to which the left carries issues to the extremes.
    4 Aug 2014, 03:03 PM Reply Like
  • Brandond
    , contributor
    Comments (455) | Send Message
    Buy PDCE with both hands
    4 Aug 2014, 03:27 PM Reply Like
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