Oil and gas companies with operations in Colorado are seeing their shares jump after voters rejected a ballot proposal that would have placed tough restrictions on drilling in the Centennial State.
Bonanza Creek Energy and Extraction Oil and Gas, two drillers that produce solely from Colorado’s Wattenberg Field, surged about 9.5 percent and 13.5 percent, respectively. Shares of PDC Energy, another Wattenberg player, were up nearly 8 percent shortly after the opening bell on Wednesday.
Shares of more diversified drillers with a footprint in Colorado were also higher. Anadarko Petroleum‘s shares rose 6.5 percent in premarket trading, while Noble Energy‘s stock price jumped nearly 4 percent.
While Colorado voters rejected prop 112, they made Democratic Jared Polis their new governor. Polis campaigned on generating 100 percent of Colorado’s electric power from renewable energy sources by 2040.