Highlighted Catalysts (high-magnitude events):
- PXD - Eagle Ford asset sale
- OAS - Additional Williston Basin divestitures < Strong candidate to move up to the Sweet 16 in 2019
- DVN - non-core asset sales
- PDCE - Colorado elections - particularly Proposition 112 (fracking setbacks) and Amendment 74 (compensation to property owners)
Upcoming Catalysts for Sweet 16
Upcoming Catalysts for Sweet 16
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group
-
John.A.Hunt
- Posts: 52
- Joined: Wed Nov 08, 2017 1:42 pm
Re: Upcoming Catalysts for Sweet 16
CO setback vote - FWIW the anti-proposition 112 forces have a war chest. Plus a sizable alliance of mayors and interested groups. But I haven't found a recent poll to see if the industry has moved the needle yet. The last poll I found had the extreme setback leading with 60% approval.
From The Colorado Independent online of 9/11:
"The fight against Proposition 112, previously known as Initiative 97, is being led by an industry-backed campaign with years of experience successfully blocking proposed regulations. And so far, that group, Protecting Colorado’s Environment, Economy, and Energy Independence, also known as Protect Colorado, has outraised its opponents 30 to one.
Protect Colorado raised $21 million as of Sept. 4, while the issue committee backing the proposed setback regulations, Colorado Rising for Health and Safety, also known as Colorado Rising, has raised $698,000 and spent almost all of it, leaving a $10,000 balance on the books. Protect Colorado has spent $12.6 million and has $8.6 million left to spend."
The industry had to fight previous extreme setback initiatives according to the same article:
"In 2014, when Protect Colorado first registered with the state, the group spent nearly $11 million opposing a 2,000-foot setback initiative, known as Initiative 88. Coloradans for Safe and Clean Energy, which backed the setbacks, spent about $2 million. Of this amount, $770,000 came from Congressman Jared Polis. Polis later pulled his support for the initiative after reaching a compromise with Gov. John Hickenlooper, who has mostly supported industry during his two terms in office.
Then, in 2016, there was a 2,500-foot setback initiative known as Initiative 78. Protect Colorado spent nearly $16 million opposing it. The backers, Yes for Health And Safety Over Fracking, spent about $521,000. The setback regulations never even made it on the ballot. All this spending helped make 2016 Colorado’s most expensive fight over ballot initiatives on record. Issue committees spent about $88 million that year."
From The Colorado Independent online of 9/11:
"The fight against Proposition 112, previously known as Initiative 97, is being led by an industry-backed campaign with years of experience successfully blocking proposed regulations. And so far, that group, Protecting Colorado’s Environment, Economy, and Energy Independence, also known as Protect Colorado, has outraised its opponents 30 to one.
Protect Colorado raised $21 million as of Sept. 4, while the issue committee backing the proposed setback regulations, Colorado Rising for Health and Safety, also known as Colorado Rising, has raised $698,000 and spent almost all of it, leaving a $10,000 balance on the books. Protect Colorado has spent $12.6 million and has $8.6 million left to spend."
The industry had to fight previous extreme setback initiatives according to the same article:
"In 2014, when Protect Colorado first registered with the state, the group spent nearly $11 million opposing a 2,000-foot setback initiative, known as Initiative 88. Coloradans for Safe and Clean Energy, which backed the setbacks, spent about $2 million. Of this amount, $770,000 came from Congressman Jared Polis. Polis later pulled his support for the initiative after reaching a compromise with Gov. John Hickenlooper, who has mostly supported industry during his two terms in office.
Then, in 2016, there was a 2,500-foot setback initiative known as Initiative 78. Protect Colorado spent nearly $16 million opposing it. The backers, Yes for Health And Safety Over Fracking, spent about $521,000. The setback regulations never even made it on the ballot. All this spending helped make 2016 Colorado’s most expensive fight over ballot initiatives on record. Issue committees spent about $88 million that year."
Re: Upcoming Catalysts for Sweet 16
Colorado will face bankruptcy in a few years if this passes. The only alternative will be a lot higher state taxes on other stuff.
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group