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
A number of legal issues can arise when it comes to oil and gas drilling, 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 than Cantafio & Song PLLC. Our knowledgeable lawyers are familiar with the complexities of oil and gas law and can help you understand which options may serve your best interests. When you need legal counsel you can count on, count on us!
Have questions about your case? Speak with one of our attorneys during an initial consultation: (888) 458-0991.