"A proposal to overhaul Colorado’s drilling laws has its first hearing today [Tuesday], pushing the bill one step closer to a vote by the Democrat-controlled state legislature.

The legislation, supported by Governor Jared Polis, would significantly change the way drilling is permitted and amend elements of state law that have been instrumental in developing Colorado’s most prolific oil play, the Denver-Julesburg basin. Anadarko Petroleum Corp., Noble Energy Inc. and Extraction Oil and Gas Inc., are among the biggest acreage holders in the basin.

While Colorado has some of the strictest environmental regulations of any oil-producing state, the law has generally favored development, granting the energy regulator broad authority over siting and drilling. "

Catherine Traywick reports for Bloomberg March 5, 2019. [2]