Springs Passes Oil, Gas Drilling Moratorium
The Colorado Springs City Council approves a six-month moratorium on oil and gas exploration in Banning Lewis Ranch so officials can ensure they have the right regulations in place.
A unit of Houston-based Ultra Petroleum bought 18,000 acres in the area. In October, Ultra won approval to drill three exploratory wells. It plans to use hydraulic fracturing to determine if oil or gas can be produced.
Colorado Springs annexed Banning Lewis Ranch in the 1980s with a view to large-scale residential development.
Council now plans to put together a task force to determine what the right decision will be on fracking in the Colorado Springs area.
