Weld County’s two largest oil and gas drillers have updated their production levels for the last few months of the year, noting increased drilling efficiencies without spending more money.
Both Anadarko Petroleum and Noble Energy — which together account for most of Weld’s production — this month have issued updates to production reports for the fourth quarter, as crews have improved wells in and outside Colorado.
The updates for these public companies are required by the Securities and Exchange Commission. Every year, the companies report expected production rates; when those change in any way, the reporting needs to be updated.
On Thursday, Anadarko reported a 2 million-barrels-of-oil-equivalent increase throughout its portfolio, which spans the globe. The primary drivers of the increase, however, are its assets in Weld and in the Delaware Basin in Texas, according to a company news release. Barrels of oil equivalent means the total volume of a well’s production, which includes crude, natural gas and natural gas liquids such as butane and ethane, all of which are sold in their respective markets.