DENVER BUSINESS JOURNAL - The Broomfield City Council late Tuesday voted 6-3 to postpone indefinitely a proposed six-month moratorium on processing applications for oil and gas permits.
It was the second vote on the proposal. The first, which was favorable, took place in December.
Council members in January voted to postpone a second vote and continue discussions with Denver’s Exaction oil & Gas Inc. (NASDAQ: XOG) about its drilling plans in the city.
Extraction told Broomfield officials late Monday the company would withdraw its current applications filed with the Colorado Oil and Gas Conservation Commission (COGCC) if the council rejected the proposed moratorium or postponed it indefinitely, according to a story in the Broomfield Enterprise.
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