Colorado Proposition 112 Threatens Statewide Fracking Operations
Shares of Anadarko Petroleum and Noble Energy have underperformed in the past couple of months as Proposition 112 has gained traction in Colorado. If the referendum passes on Nov. 6, it would effectively shut down drilling operations in the state, rendering undeveloped leases worthless. The proposed legislation would ban all activity within 2,500 feet (approximately half a mile) of buildings, playgrounds, amphitheaters, parks, or bodies of water. That's a much higher hurdle than the current setb...Noble Energy is an independent energy company, engaged in crude oil and natural gas exploration and production. The company's operating areas include: U.S. onshore, primarily the DJ Basin, Delaware Basin and Eagle Ford Shale; U.S. offshore Gulf of Mexico; Eastern Mediterranean; and West Africa. The company's Midstream segment develops, owns, operates and acquires domestic midstream infrastructure assets, or invests in other midstream entities, with existing focus areas being the DJ and Delaware Basins. The company's activities include geophysical and geological evaluation; analysis of commercial, regulatory and political risks; and exploratory and development drilling leading to production, where appropriate.
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