Drillers Flock to Rockies as Sleepiest Shale Corner Awakens

15 Dec 2017   Shale Oil

It’s not exactly the Pike’s Peak gold rush of 160 years but with crude prices on the rise, explorers are returning to the oil-rich rock of Colorado. (Bloomberg) — It’s not exactly the Pike’s Peak gold rush of 160 years but with crude prices on the rise, explorers are returning to the oil-rich rock of Colorado as a way to expand beyond the shale plays of Texas and New Mexico. During the three-year crude-market collapse, as prices fell below $27 a barrel, the Denver-Julesburg Basin northeast of Denver was largely abandoned as explorers tightened down drilling budgets. Now, with prices headed toward $60 on the heels of OPEC-led production cuts, the region is spurring renewed interest. More than $2 billion of drilling deals have been announced in the last four months in the DJ Basin. In addition, Colorado has seen more than $1.8 billion in pipeline deals and extensions […]

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