COLORADO SPRINGS, COLO. (AP) -- Colorado Springs is considering a six-month moratorium on oil and gas exploration in Banning Lewis Ranch so officials can ensure they have the right regulations in place.
The Gazette reported that the City Council was to consider the moratorium on Wednesday.
A unit of Houston-based Ultra Petroleum bought 18,000 acres in the area. In October, Ultra won approval to drill three exploratory wells. It plans to use hydraulic fracturing to determine if oil or gas can be produced.
Colorado Springs annexed Banning Lewis Ranch in the 1980s with a view to large-scale residential development.
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