Originally published on digitaljournal.com
Founder of Ferrari Energy, Adam Ferrari, discusses the extensive set of new rules approved by the Colorado Oil and Gas Conservation Commission for oil and gas drilling.
El Segundo, CA - There are new rules to follow that are set to take effect on January 15, 2021, in the state of Colorado for oil and gas drilling. It has been more than eighteen months since Governor Jared Polis signed legislation to repair Colorado’s oil and gas industry, and just recently, regulators have concluded the details.
Adam Ferrari, founder, and CEO of Ferrari Energy said that Colorado’s new rules highlight the state’s efforts to prioritize public health and safety and the environment when deciding approval for oil and gas drilling permits.
According to the Colorado Oil and Gas Conservation Commission, the private oil and gas company Ferrari Energy, along with any other organization within the oil and gas industry seeking to drill in the state of Colorado, is required to drill new oil and gas wells at least two thousand feet from homes and schools. This new regulation has increased the previous five-hundred feet requirement drastically.
This updated setback distance is under Senate Bill 19-181 (SB-181). This specific bill was passed in 2019 and is considered breakthrough legislation passed, or the most sweeping oil and gas reforms the state has ever seen, as it changed how Colorado issues oil and gas drilling permits.
The push for these new rules was seen after a seepage of an odorless gas from an Anadarko Petroleum owned line was the cause for a fatal event. The leak led to a Firestone house explosion and fire in April 2017 that killed two people and injured another. Occidental Petroleum now owns the line.
The commission has taken environmental concerns into account in its decision-making for the first time in the permitting process for oil and gas wells. In addition, the process will also involve the voice of communities that are in close proximity to the location of the physical wellbores.
Other adjustments to state rules include the commission adding a set of regulations focused on protecting wildlife by putting limits on where organizations can drill. The changes also incorporate a ban on routine venting and flaring. Flaring in Colorado is considered a rarity, but some states like Texas and North Dakota have widespread flaring. The only other state in the United States with similar regulations around flaring is Alaska.
About Adam Ferrari
Adam Ferrari was born and raised in the south suburbs of Chicago, IL. He is the grandson of an Italian immigrant coal miner who worked in the mines of Coal City, IL. From an early age, Adam was taught the value and dignity achieved through a hard day’s work. The oil and gas industry provides good-paying jobs for millions of blue-collar men and women across America, and this is one of many reasons Adam and his company are such staunch supporters of the oil and gas industry.
Through the successes at Ferrari Energy, the company has been able to give back to various organizations in the greater Denver and Chicago regions, which are both cities that he has taken residence in and maintains strong ties to. Under his leadership, Ferrari Energy actively made annual donations to a variety of non-profit organizations, including St. Jude Children’s Hospital, Freedom Service Dogs, Denver Rescue Mission, Coats for Colorado, and Next Steps of Chicago.