Broomfield, Colorado, has long been home to oil and gas operations. In fact, it’s safe to say that oil and gas operations predated Broomfield as we know it, and Broomfield grew up around wells, some of which are no longer producing in economic amounts. These old wells are more than just indicators of the city’s past, however. The Wattenberg Field still contains vast untapped resources that can be used both to meet America’s growing energy needs and to benefit the local economy.
With the help of extensive local input, Extraction Oil & Gas has developed a plan that will stimulate the Broomfield economy and revitalize a reliable source of tax revenue. Extraction is participating in almost weekly meetings with the City and County of Broomfield and other stakeholders to ensure that plans for their project reflect feedback from the community. While some aspects of the plan are still being finalized, the scope and shape of the project has been established.
As part of the Broomfield Development Plan, Extraction will plug and reclaim more than 30 wells in and around Broomfield. These vertical wells are no longer necessary for producing oil and gas, thanks to the use of more efficient horizontal wells that can reach the same areas with fewer surface locations. Extraction will remove all surface equipment from the older vertical wells and plug the wells with concrete. After integrity testing has been conducted on these wells, Extraction will oversee the planting of native grasses, shrubs and trees. The sites will then be returned to the custody of landowners or to the City and County of Broomfield, which can then develop commercial or residential areas around the reclaimed land.
Currently, 12 parcels of land around Broomfield have all the necessary permits for the operation of oil and gas wells. In addition to shutting down dozens of wells, Extraction plans to consolidate these previously-approved development areas to only four pads located along Northwest Parkway.
Cutting-edge technology and best management practices will minimize any potential impacts of the new development.. The consolidated pads will not permanently store any oil onsite, eliminating potential emissions associated with the storage of oil and gas.. Additionally, Extraction will utilize the latest equipment in all aspects of operation, including Liberty’s Quiet Fleet and electric-powered drilling rigs, leading to a cleaner,, quieter and more efficient operation than any previous Broomfield oil and gas development.
Extraction’s dedication to mitigating impacts from the project won’t necessarily be obvious to casual observers, and that’s the whole point. The new wells will be tucked discreetly behind over one million dollars in hills and beautiful landscaping at each of the four pads.
While the physical infrastructure is designed to be as aligned with Broomfield’s natural beauty as possible, the economic benefits will be hard to ignore. Experts predict that the Broomfield Development Plan will generate as much as $180 million in state and local taxes. These severance taxes include earmarks for improving roads and funding schools.
Extraction also plans to build a commercial natural gas pipeline, which will significantly minimize the already negligible truck traffic that would otherwise be associated with this project. These best practices will set a high standard for future oil and gas development in Broomfield. As residents of the Front Range ourselves, we at Extraction Oil & Gas care deeply about the well-being of our community and the local environment. That’s why Extraction is proud of the best-in-class Broomfield Development Plan. as part of the company’s overall commitment to safely and responsibly developing the energy resources we all use each day.