SG Interests Giving Up Lease in Thompson Divide
KREX News Room
GRAND JUNCTION, Colo. (AP) - SG Interests says it will allow its 2,500-acre federal oil and gas lease in the scenic Thompson Divide to expire May 31, rather than develop it.
Though SG is giving up the lease outside Redstone, the company still holds more than 20,000 acres of leases in an area known as the proposed Lake Ridge drilling unit.
Conservation groups including the Thompson Divide Coalition and others trying to protect the Thompson Divide from drilling have tried to buy leases there from SG and others, or otherwise persuade companies to give them up.
Coalition executive director Zane Kessler says SG's decision to give up one lease is a step in the right direction but only one step.
The Thompson Divide stretches from roughly Glenwood Springs to McClure Pass.