Anadarko predicts oil bounty from Niobrara, plans Colorado expansion

Denver Business Journal by Cathy Proctor, Reporter
Date: Monday, November 14, 2011, 4:43pm MST

Colorado’s fledgling Niobrara oil field could hold up to 1.5 billion barrels of oil — putting the field on par with the higher profile Bakken oil field in North Dakota, the biggest source of domestic oil production in years — Anadarko Petroleum Corp. said Monday.

Based on that forecast, the company, which currently employs about 1,000 people in the state, said it will expand investment in Colorado.

Monday’s Anadarko announcement was based on results of 11 horizontal wells drilled into the field.

Continue reading article at the Denver Business Journal

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