• Capstone completed due diligence around a prospective investment in a Colorado-based oil and gas exploration and production (E&P) company with exposure to Weld, Adams, Broomfield and Arapahoe Counties.


  • We reviewed existing and proposed regulations and held numerous one-on-one conversations with regulators, industry advocates, environmentalists, state lawmakers and local officials.  We focused extensively on the risk of increased local regulations from municipalities that are less friendly to the oil and gas sector.


  • We concluded that the risks facing the Target were material, particularly in municipalities that have shown greater interest in increasing local regulations on the oil and gas industry. However, we viewed the risks as manageable so long as the Target utilized the best practices identified throughout our diligence, based on our conversations with relevant local stakeholders.
- Capstone LLC -

Washington DC

-Capstone Research Limited-