Plans for that drilling site are still being finalized with the town; it is one of four multi-well pads Crestone is seeking to establish that will bring 51 new wells to
Crestone projects its four well pads throughout town will generate $135 million in property tax revenue for the town and 12 other taxing entities over the 25-year lifespans of the wells, including $101.3 million in their first seven years. The figures were calculated using a $50 per barrel price point for oil and a $3 per million British thermal units price point for natural gas.
The company this month started drilling wells on one location — the 19-well Bighorn pad northeast of
“With the progress I’ve seen over the 20 or so years I’ve owned that ground, and to produce our own domestic energy instead of buying it from people (overseas) that really wish us ill, I couldn’t be more in favor of this project,” Owen said.
But worries remain for other residents.
“Health and safety concerns” with the drilling project prompted wheelchair-bound resident
“I think the town board and town staff understand the differences in what we’re proposing versus what was at the center of the tragedy in 2017,” Oates said. “Everything is focused on what we can do to make sure things are safe and fits the town’s plans.”
The company plans to conceal the 14-well pad, known as the Kugel pad, from the view of
Crestone also will relocate a portion of a walking path that loops around the park to “avoid pedestrian conflicts with vehicles accessing the well pad,” according to a
The 12-well Johnson pad just south of
Drilling on the Bighorn site is expected to last through July.
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