Mitigation challenges for Oil & Gas companies in Oklahoma gets a little easier with the USFWS approval of a new conservation bank for the American Burying Beetle.
By Common Ground Capital
Published: Monday, Feb. 24, 2014 – 8:44 am
EDMOND, Okla., Feb. 24, 2014 –/PRNewswire/ — The American Burying Beetle Conservation Bank (“ABBCB”) was approved by the United States Fish & Wildlife Service (“USFWS”) on February 21 to provide conservation credits across Eastern Oklahoma. The ABBCB will create approximately 700 turn-key conservation offsets for developers who need to mitigate damages to American Burying Beetle (“ABB”) habitat. The ABB has been listed as an Endangered Species by the USFWS since 1989.
The ABBCB provides a perpetual haven for American Burying Beetles under a 1600 acre permanent conservation easement, held by Land Legacy of Tulsa, Oklahoma. Common Ground Capital, LLC of Edmond, Oklahoma spearheaded the development of these projects with support from WLLL, LLC of Tyler, Texas. WLLL will manage the long-term stewardship of the property as well as the marketing and sales of the ABB credits. The ABB credits will provide offsets for impacts of the construction of projects under the requirements of the Endangered Species Act. Common Ground Capital is also developing a portfolio of Lesser Prairie Chicken (“LPC”) Conservation Banks currently totaling 80,000 acres across the southern plains in anticipation of providing credits for any regulatory outcome for the USFWS LPC listing decision in March.
Jon Dobson, Associate General Counsel, TransCanada, “We are extremely pleased in Common Ground/WLLL’s execution on both the Keystone McAlester Conservation Area in 2012 and now the ABBCB for the success on the first major conservation projects for the ABB in Oklahoma. TransCanada is proud to be a part of a successful partnership with CGC/WLLL & the USFWS using scientifically rigorous mitigation standards that have created a first class conservation project that will benefit the ABB in perpetuity in Oklahoma.”
About Common Ground Capital:
Common Ground Capital is currently focused on developing conservation banks for the American Burying Beetle in Oklahoma and the Lesser Prairie Chicken across the southern plains and seeks to provide solutions to complex challenges in the energy environment interface.
WLLL is a major wetlands mitigation banker founded in Tyler Texas in 2008. WLLL is the Master Limited Partner in the Piney Woods Mitigation Bank in East Texas, the largest Wetlands bank in the US and Burleson Mitigation Bank located near the Dallas Ft. Worth Metroplex.
Contact Wayne Walker of Common Ground Capital, for more information: 405-596-9139.Contact Preston W. Smith of WLLL, LLC for information regarding ABB credit sales: 903-780-2102.