Gas drilling on Mt. Herman on hold

On February 22, 2012 — No comments

Natural gas drilling is occurring in Weld and Garfield Counties and will undoubtedly occur in El Paso County before too long.

The Houston-based company Ultra Resources purchased the Banning Lewis Ranch last year with the intent of drilling for oil and gas. Another Texas-based company, Dyad Petroleum Co., also intends to drill for oil and gas — only their location will be in the Tri-Lakes area.

Residents of Banning Lewis Ranch have concerns with the process of hydraulic fracturing also known as fracking. This has been a concern for Tri-lakes residents for many years and although it may seem quiet on the home front for now the issue hasn’t gone away.

The project is currently on hold, however Dyad has had a lease on the mineral rights since 1996. The leases extend from near Larkspur up to the United States Air Force Academy. Dyad has intentions of drilling two wells near Mt. Herman.

“The dollar cost isn’t there yet for us to drill with all the environmental issues we have to work through to be able to drill,” a spokesperson from Dyad Petroleum Co. said. “We’re just going to sit on it for now.”

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