Pure Cycle provides sustainable, reliable, environmentally responsible wholesale water and wastewater services to local governments, commercial and industrial customers delivering high quality water using the Company’s extensive portfolio of water rights throughout Colorado.
Through August 18, 2015 Pure Cycle owned approximately 14,600 acres of irrigated farm land in southeastern Colorado along the Fort Lyon Canal. The Company will continue to lease to tenant farmers growing alfalfa hay, corn, wheat, sorghum and other grain crops through December 2015 at which time the Company will discontinue its farming operations.
Colorado has experienced significant growth in oil development due to horizontal well development and hydrologic fracturing of wells stimulating production in the oil rich Niobrara formation. Niobrara development has expanded to include areas beneath the Company’s service areas in Arapahoe County requiring significant water supplies in proximity to the Company’s existing supplies and infrastructure.
We own approximately 930 acres of fully entitled Master Planned Community Development Project along Denver’s primary east/west transportation corridor Interstate 70. The property included water and oil & gas rights which we are currently exploiting together with our Oil & Gas Lessee.