Companies are optimistic
A drill rig operates just off I-25 north of Longmont.
For about three years, oil and gas drillers have suffered through low oil prices. In fact, they haven’t been this low for this long in more than a decade. Yet some of Colorado’s largest energy companies still seem optimistic.
Take Anadarko Petroleum. They pumped 33 million barrels of oil in Colorado in 2016, making them the state’s largest driller. The next closest competitor, Nobel Energy, trailed them by 10 million barrels.
Why are they so active when prices are so low? One big reason: They own a lot of the mineral rights.
To read the story, visit Colorado Public Radio’s website at http://bit.ly/2eLS2fc
