Black Diamond Minerals selling Fort Collins wells

FORT COLLINS – Black Diamond Minerals said Thursday it is looking to sell its oil field in north Fort Collins.

The Denver company wants to sell the rights, titles and interest to the field in the Hearthfire subdivision, company CFO Ward Giltner said.

If it does not find a buyer, Black Diamond will hydraulically fracture six existing oil-producing wells.

The field, which has nearly 50 wells in all, has produced oil since the 1920s, Giltner said. Surrounding homes were built well after.

Black Diamond’s property straddles the border of the city and Larimer County. The company paid $240,000 in property taxes last year, but that figure could double if additional wells were drilled there.

The money would fund schools, roads and other government services.

You have 2 free articles remaining this month.
Want to see more? Login or Subscribe.

Leave a Reply

Your email address will not be published. Required fields are marked *


Social Network

Facebook Icon
Twitter Icon
LinkedIn Icon
©2016 BizWest The contents of this website are copyright BizWest Media, LLC. All rights reserved.
Use of any of this informatino or media on this site is strictly prohibited withotu express written consent.