The DJ/Niobrara Basin| February 2021
Located mainly in the Northeast of Colorado, the Denver-Julesburg Basin consists of five main oil-producing formations: Niobrara sections A-C, Codell, and Greenhorn. These five plays produce over 90% of Colorado’s oil/gas.
State Drilling Statistics (End of February)
Active Drilling Rigs in Basin- 7
Total Rigs in Colorado- 8
Total Rigs in United States- 402
Total U.S. Rigs down 49% YTD
State Top Producers
Top Producer By BOE – Extraction Oil & Gas
Colorado to Add to Federal Land Porfolio
Colorado representatives voted with their parties 227-220 sending a public lands package to the US Senate. This deal affords protection to an additional 650,000 acres in the San Juan mountains and around the continental divide. These areas will no longer be allowed to be leased for oil and gas development. Democrats defended their decision saying that some land needs to be preserved now so it will remain undeveloped for future generations. Republicans fought the decisions saying that there are far too many resources in the ground that could be developed, rather than relying on foreign countries to supply. These lands already have federal status, but 36% of Colorado land is already federally controlled and limits what mineral extraction may take place on its grounds.
Compressor Talks Turn to Controller Solutions
Last month RARE PETRO reported on talks looking to retrofit compressors. As the talks continued, the focus transitioned to controllers, and an agreement between environmentalists and industry actors has been reached. The new rule requires all new controllers to be non-emitting, and pushes to retrofit old controllers. This is a first in the nation rule that was actually reached with little pushback after a compromise was established. ”There’s not a whole lot to talk about,” Commissioner Elise Jones said. “This is such an unusual situation with everybody agreeing.” The goal is to have a “large portion” of controllers in the state non-emitting by May 1st, 2023 which would be 3 years after the agreement’s inception. Controllers account for roughly 29% of industry air emissions, so this rule could spread from Colorado to the nation.
Top Producers BOE (2021 cum)
|1||Extraction Oil & Gas||2,904,417|
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