The company said it is raising the estimate of recoverable oil in its Denver-Julesburg Basin properties 60 percent to the equivalent of 2.1 billion barrels. The cash infusion will help the company increase the number of wells drilled in the Weld County portion of the basin, to 300 in 2013 and 500 a year by 2017, according to a Noble statement.10Dec2012 | admin | 0 comments | Continued
Bill Barrett Corporation is selling multiple assets in Wyoming, including its Wind River Basin natural gas properties and Powder River Basin coal bed methane assets. While on the West Slope, Antero Resources is selling off all of its natural gas and pipeline assets in the Piceance Basin.5Nov2012 | admin | 0 comments | Continued
Encana’s original 2012 plan to drill between 40 and 45 wells has been expanded to drill between 115 and 120 wells in 10 plays primarily focused on oil. The company is expecting to drill approximately 350 oil and liquids rich wells in 2013.21Jun2012 | admin | 0 comments | Continued
Australian-based Titan Energy has acquired its third U.S. oil and gas asset that could let it break into Niobrara shale oil play. The company will pay $75,000 for a 40% working interest in the 1360 acre Sodbuster Prospect in Logan County.20Mar2012 | admin | 0 comments | Continued
The company said it acquired the assets for a total consideration of $2,662,634 in the form of $2,200,000 in cash and 155,770 shares of Synergy’s common stock. The mineral interests cover approximately 8,875 acres in Weld, Morgan and Larimer counties.15Mar2012 | admin | 0 comments | Continued
The deal is valued at $2.85 billion and part of the buyer’s
plan to expand its holdings of energy-rich reserves in the Midwestern United States, specifically the transaction will double Apache’s acreage in the energy-rich Anadarko shale formation.
In another indication that Colorado’s Niobrara is attracting global interest, London-based Nighthawk is increasing its focus in U.S. shale plays with the announcement that it is acquiring an additional 25% interest in the Jolly Ranch project
in the DJ Basin. The seller is Running Foxes Petroleum.
In a detailed press release to media, the energy company noted that many of the agency’s findings from its recent deep monitoring wells, including those related to any potential connection between fracking and Pavillion groundwater quality, “are conjecture, not factual, and only serve to trigger undue alarm.”13Dec2011 | admin | 6 comments | Continued
“Based upon the early results of Anadarko’s program in the Wattenberg field, we are confident the liquids-rich Horizontal Niobrara and Codell opportunity provides a net resource potential of 500 million to 1.5 billion BOE (barrels of oil equivalent); and it’s located right in the heart of one of our existing core areas,” said a company VP.15Nov2011 | admin | 0 comments | Continued
Oil and gas deals got bigger and were dominated by foreign buyers placing bets on U.S. shale plays, according to a report on U.S. energy mergers and acquisitions released Wednesday by PwC’s energy consulting practice.28Oct2011 | admin | 0 comments | Continued
Critics Say Outdated Oil and Gas Royalty Rate Costing Colorado Millions
Every year, the Obama administration pushes to raise the royalty rate on onshore oil-and-gas production, looking to channel more of the profits from extraction on public lands to federal and state coffers. The efforts have been unsuccessful. Today’s 12.5 percent rate hasn’t changed since the 1920s. Analysts say that low rate has cost Colorado taxpayers an estimated $300 million since Obama took office in 2008.READ THE FULL POST »