"Group claims oil firms transferred depleted wells to another company which then conspired to avoid clean-up through fraud"
"Cindy McCormick and her husband bought a new property in Hudson, Colorado, in 2020. It was expansive, close to friends and had a stunning mountain view.
There was just one problem: an aging, abandoned oil well sat on one far edge of the land. The couple was a bit concerned, but the realtor and the well’s owner, Painted Pegasus Petroleum, assured them that it would be cleaned up.
“We kind of took that as, OK, this is great, it’s not a problem,” McCormick said.
When the well still hadn’t been plugged two years later, McCormick began to look for more information, but Painted Pegasus didn’t return her calls. When she reached county officials for help, they informed her that the company had filed for bankruptcy in November 2021.
“They said the well was orphaned and was now the responsibility of the state, and so it would be years probably before anything could be done to assist with our situation,” she said."
Dharna Noor reports for the Guardian February 29, 2024.
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