Spacing, Drill Permits, etc

So from what I gather the COGCC passed the request for Conoco's new spacing requests in Arapahoe as well as their option to put 2 rigs on a unit if they choose.

Any thoughts on this?

Also, for those of you in the know or with some experience... how long does this stuff take to get "going"? Seems like they are moving pretty fast already. But I have no idea. Once the spaces have been approved, what next? Anyone know the process?

Thank you!


I believe the 2 wells per spacing unit refer to the horizontal legs, not actual drilling rigs. I also believe that once spacing units are approved, the oil company has until the length of leases in that section to apply for a drilling permit. They can do that at any time now.