Two initiatives that would affect oil and natural gas extraction in Colorado could get on the state ballot this fall, and backers have until Monday to submit the required number of signatures.
Opposition has been fierce, with more than $15 million raised to fight the proposed measures, which are seen as a threat to the state's energy industry.
"The energy industry is very concerned," said David Tameron, an energy analyst at Wells Fargo Securities in Denver. "Essentially, it would grind drilling development to a halt in the state."
Ballot Initiative 78 would force mandatory setbacks for oil and gas development in Colorado, including requiring any development or fracking to be located more than 2,500 feet away from both an "occupied structure" or "areas of special concern" such as parks, playgrounds, public open space, lakes or rivers.