On February 28th 2013, at their Analyst Meeting, ConocoPhillps’ (COP) EVP Matt Fox, presented the company’s plans for the Niobrara Play. The Niobrara will become a new core area for Conoco. ConocoPhillips has quietly built up 130,000 acres of a very consolidated position in Adams, Arapahoe, Elbert and Douglas counties of Colorado in what they believe to be a new sweet spot in the Niobrara. Conoco drilled 4 horizontal Niobrara wells in 2012. The results from their drill program show that the rock properties look good, and that their early production results are encouraging. Liquid yields are higher than the Eagleford and lower than the Bakken. Mr. Fox stated that Conoco feels so good about the liquid yields that they will drill 32 wells in 2013 and will be moving from the appraisal phase to the development phase in 2013.