Elbert County banks on oil boom
Elbert County is about to tap into the riches of the oil and gas industry, but some ranchers and property owners are worried about the effect a new energy rush could have on the environment and infrastructure.
At least three energy companies are soliciting lease agreements from Elbert County property owners who live above the oil and gas rich Niobrara shale formation that runs from southeast Wyoming along the Front Range and into Elbert County, as well as parts of Kansas and Nebraska.
With billions of dollars expected to flow from the formation over several decades, Elbert County officials believe oil and gas will be an economic boon for the region. It also may help rescue a county government mired in debt and in a downward revenue spiral….read more