Oil Found in Steamboat Springs – What does this mean for Real Estate
Just west of Steamboat Springs, Quicksilver Resources confirmed their first horizontal well on Wolf Mountain in Routt County has demonstrated it is capable of producing 500 barrels of oil per day according to the Steamboat Today.
Unlike the vertical wells drilled between 1960 and 1980, these horizontal wells actually drill under or near local homes in and around Steamboat Springs, Colorado. And considering most people who own real estate in Steamboat do not own the mineral rights, these home owners will not only not benefit from these wells, but they might be severely impacted as well.
It’s been stated that there will be on-going testing of well water in the areas adjacent to the horizontal drilling site on Wolf Mountain. Owners in the area are concerned their well water will soon be contaminated.
I know that this home on Saddle Bow Lane is affected by this drilling. It’s been for sale for several years and I’m guessing that any potential buyer of this home on Saddle Bow Lane will want to know about this potential oil well in Steamboat Springs.