Colorado’s Niobrara oil play not a flash in the pan

 

Oil Tank Battery in Weld County Colorado with protective liner

Oil Tank Battery in Weld County

April 15, 2013 –  Reporter-Denver Business Journal

The two biggest oil and gas companies working in Colorado’s Niobrara oil play could be drilling new wells nearly 20 years from now, based on the number of locations they’ve identified and the number of wells they plan to drill every year.

“The Wattenberg [part of the Denver-Julesburg (DJ) Basin north of Denver] is probably our biggest domestic play at this time,” John Ford, the general manager of the DJ basin for Anadarko Petroleum Corp., said Monday during a panel discussion at the Platts Rockies Oil & Gas Conference held at the Grand Hyatt hotel downtown.

The conference drew more than 200 oil and gas executives, according to Platts organizers.

“Last year we [Anadarko] invested about $1 billion in capital, this year we plan to exceed $1.5 billion. And if we look at the inventory of wells that the major operators have here in the basin, we believe we’re looking at a decade or more of activity.”

Continue reading story at The Denver Business Journal

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