Colorado oil production hit 57-year high in 2012

Oil Drilling Rig

Oil Drilling Rig

 Reporter-Denver Business Journal

Colorado produced nearly 48 million barrels of oil in 2012, which ranked as the state’s second-highest level of oil production on record, according to a Denver Business Journal review of records from the Colorado Oil & Gas Conservation Commission(COGCC).

As of Monday morning, preliminary tallies of Colorado’s 2012 production stood at 47,911,393 barrels of oil — 22 percent above the 39,124,879 barrels produced in 2011, according to the COGCC.

The state’s record year was 1956, when Colorado produced 58,564,000 barrels of oil, according to the Rocky Mountain Association of Geologists.

Oil and gas companies have 45 days after the end of a month to report production and sales information for the month. The COGCC’s staff is now working to finalize 2012 production figures.

Colorado’s oil production has grown rapidly in the last few years as energy companies have explored for, and found, oil in the state’s Niobrara formation north of Denver.

Continue Reading at The Denver Business Journal

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