Crestone Peak Resources Files for Permit with City and County of Broomfield

DENVERFeb. 27, 2018 – On Friday, Feb. 23, Crestone Peak Resources submitted an application and related documentation for a “Use by Special Review” (USR) permit to the City and County of Broomfield. The application outlines a proposed oil and gas site, referred to in the application as the Goltl oil and gas location, located east of Interstate 25 in the rural northeast corner of Broomfield County.

The proposed Goltl location will include 26 wells situated near several existing oil and gas operations and is outside the 100-year floodplain. Crestone intends to develop all its mineral rights in Broomfield County at this site, making the Goltl location its only area of development in Broomfield County.

Through the required USR process, Crestone outlines the technical aspects of proposed operations. Additionally, in the coming weeks, Crestone will submit a proposed draft of an Operator Agreement addressing site-specific information about Crestone’s approach to operating in the most efficient, safe and environmentally responsible way. Crestone intends to negotiate the Operator Agreement with the City and County of Broomfield as the USR makes its way through the technical review process.

Crestone originally filed for a proposed drilling and spacing unit with the Colorado Oil and Gas Conservation Commission (COGCC) in June 2017, and is on the docket for discussion at the March 19-20 COGCC hearings. The submission of the USR application with the City and County of Broomfield signals the beginning of technical review of development plans by local government.

About Crestone Peak Resources

Crestone Peak Resources is an oil and gas producer in the Wattenberg Field within the Denver-Julesburg Basin (DJ Basin), with 51,000 net acres. Formed in 2016 with the completed purchase of Encana’s DJ Basin assets by the Canadian Pension Plan Investment Board and The Broe Group, Crestone’s team of 165 Colorado energy professionals offers experience deeply rooted in DJ Basin operations with a focus on operating in the most efficient, safe and environmentally responsible way possible. Crestone has offices in Denver and Firestone. For more information go to: https://www.crestonepeakresources.com/.