Weld County Wells Booming Despite National Oil Slowdown
Posted on Dec 4, 2015 4:02pm PST
Despite a general slowdown across the Denver-Julesburg Basin, Weld County
is on pace to exceed 100 million barrels of oil for 2015. According to the
Greely Tribune, more than 89 percent of Colorado’s oil production this year has
come from Weld County, reflecting an increase of 85 percent over last year.
According to analysts, operators are extracting more oil from each well
by using improved techniques for well fracturing (also known as fracking)
as well as drilling the best parts of the basin. According to the Colorado
Oil & Gas Conservation Commission, Weld oil production averaged 8.7
million barrels a month during the first half of 2015. Oil production
statewide for the year so far is at just below 80 million barrels. The
second-largest oil county in Colorado, Rio Blanco, has produced 2.6 million barrels.
Companies usually have 45 days to report their production. Production figures
are typically revised over several months as updated reports are submitted
by operators, according to the Oil & Gas Conservation Commission.
This year’s production figures for Weld County are a major milestone
considering that the county only produced 26.8 million barrels four years ago.
Oil & Gas Attorneys Serving Colorado
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especially with wells that are located close to residential areas. If
you are in need of an oil and gas attorney in Colorado, look no further
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