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Anadarko: More oil, natural gas in Northern Colorado than thought

North Colorado Business Report -- Anadarko Petroleum Corp. has increased the estimate of how much oil and natural-gas is recoverable in the Wattenberg field to a new range of 1 billion to 1.5 billion barrels of oil-equivalent.

The company, a key oil and gas producer in Weld County, previously estimated that its reserves in Northern Colorado oil and gas field amounted to between 500 million and 1.5 billion barrels of oil-equivalent.

The company's horizontal drilling program in Northern Colorado's Niobrara and Codell formations continues to deliver "exceptional performance," the company said this week in an earnings report. The company posted a $121 million third-quarter profit, or 24 cents per share, vs. a more than $3 billion loss, or $6.12 a share, in last third quarter.

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Submitted Nov 01, 2012 By: DellDude2

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honda0105 Champion Author Tallahassee Posts:18,643 Points:1,611,470 Joined:Nov 2008	Message Posted: Nov 6, 2012 5:56:14 AM Ignore honda0105 Report Abuse cctech: you've made some good points.
boldrph Champion Author Topeka Posts:18,387 Points:3,452,840 Joined:Oct 2002	Message Posted: Nov 2, 2012 5:28:20 PM Ignore boldrph Report Abuse what will the world market do?
jcdakota Champion Author Baltimore Posts:1,347 Points:361,345 Joined:Nov 2010	Message Posted: Nov 2, 2012 12:17:51 AM Ignore jcdakota Report Abuse Could be good news but will the big oil companies allow it to be refined and take market prices down?
crreed1 Champion Author West Virginia Posts:1,995 Points:2,528,285 Joined:May 2005	Message Posted: Nov 2, 2012 12:17:43 AM Ignore crreed1 Report Abuse ok
Blue_Cruzer Champion Author Lexington Posts:7,530 Points:1,671,535 Joined:Mar 2007	Message Posted: Nov 1, 2012 11:55:33 PM Ignore Blue_Cruzer Report Abuse Sounds to good to be true.
suzmar Champion Author Texas Posts:2,213 Points:873,785 Joined:Jun 2006	Message Posted: Nov 1, 2012 11:53:39 PM Ignore suzmar Report Abuse Good news, now lets go after it.
1fulltank Champion Author Buffalo Posts:7,913 Points:1,546,260 Joined:Nov 2008	Message Posted: Nov 1, 2012 11:53:24 PM Ignore 1fulltank Report Abuse Probably more in the entire USA than originally thought.
clermont40miles Champion Author Cincinnati Posts:10,583 Points:1,774,295 Joined:Apr 2008	Message Posted: Nov 1, 2012 11:48:39 PM Ignore clermont40miles Report Abuse Good. Produce.
Ticoman54 Champion Author Miami Posts:7,051 Points:1,493,745 Joined:Oct 2008	Message Posted: Nov 1, 2012 11:48:23 PM Ignore Ticoman54 Report Abuse We need to develop our own resources NOW!
us4usa Champion Author Missouri Posts:5,998 Points:1,114,940 Joined:May 2008	Message Posted: Nov 1, 2012 11:48:10 PM Ignore us4usa Report Abuse More oil on the market the lower the price, yes even the world market can be flooded to lower the price of oil... Hard to jack up the price when everyone is swimming in oil... And no OPEC will not shut down their oil fields, they need to sell so much to keep afloat,low prices they need to sell more... If everyone keeps pumping oil on the world market prices will drop...
ruca2012 Champion Author San Diego Posts:1,074 Points:215,140 Joined:Oct 2012	Message Posted: Nov 1, 2012 11:46:37 PM Ignore ruca2012 Report Abuse ok
skybiker Champion Author South Carolina Posts:7,308 Points:1,561,465 Joined:Jul 2008	Message Posted: Nov 1, 2012 11:42:28 PM Ignore skybiker Report Abuse selfdestruct. You can't eat if the truck doesn't bring the food to the city..eh?
mrselfdestruct Champion Author Arkansas Posts:1,009 Points:168,800 Joined:Aug 2011	Message Posted: Nov 1, 2012 11:39:37 PM Ignore mrselfdestruct Report Abuse Can't eat oil
jrsva Champion Author Virginia Posts:9,863 Points:1,614,950 Joined:Jan 2006	Message Posted: Nov 1, 2012 11:34:55 PM Ignore jrsva Report Abuse “As long as we use these resources for domestic needs.” Good luck with that. Oil is a global market; it will go to the highest bidder.
abcdMA Champion Author Worcester Posts:7,932 Points:1,576,930 Joined:Nov 2008	Message Posted: Nov 1, 2012 11:25:50 PM Ignore abcdMA Report Abuse hopefully the administration won't block drilling it
megadiesellv Champion Author Atlanta Posts:1,474 Points:503,585 Joined:Sep 2011	Message Posted: Nov 1, 2012 11:20:06 PM Ignore megadiesellv Report Abuse That's great, we should use up all saudi oil and everyone else, and keep ours for later day. And we would rule the world again.
bcok Champion Author Los Angeles Posts:2,126 Points:1,544,495 Joined:Oct 2005	Message Posted: Nov 1, 2012 11:16:59 PM Ignore bcok Report Abuse great
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Nov 1, 2012 11:12:39 PM Ignore bonzoonfmb Report Abuse The supply will go to the highest bidder. The price of gas for the U.S. consumer will not go down.
nwsynthetics Champion Author Oregon Posts:1,014 Points:347,625 Joined:Dec 2011	Message Posted: Nov 1, 2012 11:11:56 PM Ignore nwsynthetics Report Abuse nice
wayoung56 Champion Author Alabama Posts:2,810 Points:820,285 Joined:Oct 2006	Message Posted: Nov 1, 2012 11:11:13 PM Ignore wayoung56 Report Abuse Good news if the EPA and the tree-huggers don't try to stop drilling...
naspa Champion Author Cleveland Posts:1,281 Points:354,100 Joined:Jan 2012	Message Posted: Nov 1, 2012 11:09:11 PM Ignore naspa Report Abuse Will that easy the imports? If not, who cares?
camaro_man Champion Author Kitchener-Waterloo Posts:2,239 Points:612,460 Joined:Jun 2010	Message Posted: Nov 1, 2012 11:07:36 PM Ignore camaro_man Report Abuse wow
bby Champion Author Twin Cities Posts:5,734 Points:1,023,870 Joined:Nov 2009	Message Posted: Nov 1, 2012 11:07:12 PM Ignore bby Report Abuse ok
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:403,100 Joined:Jan 2012	Message Posted: Nov 1, 2012 11:04:29 PM Ignore Shakleelady31 Report Abuse Good news for America.
carinthuist Champion Author San Francisco Posts:2,250 Points:331,125 Joined:Mar 2012	Message Posted: Nov 1, 2012 11:03:23 PM Ignore carinthuist Report Abuse great lets use the source
5Golfer8 Champion Author Tucson Posts:2,143 Points:301,625 Joined:Jun 2011	Message Posted: Nov 1, 2012 10:58:08 PM Ignore 5Golfer8 Report Abuse As long as we use these resources for domestic needs.
camel1 Champion Author Minnesota Posts:8,275 Points:2,267,590 Joined:Jul 2006	Message Posted: Nov 1, 2012 10:58:01 PM Ignore camel1 Report Abuse it is only a projection, so doubt the accuracy
DEG Champion Author Las Vegas Posts:17,630 Points:3,496,655 Joined:Jul 2003	Message Posted: Nov 1, 2012 10:57:33 PM Ignore DEG Report Abuse Speculation.
Darwin00 All-Star Author Mississippi Posts:831 Points:271,975 Joined:Dec 2010	Message Posted: Nov 1, 2012 10:55:34 PM Ignore Darwin00 Report Abuse That is cool!
30mpg80 Champion Author Lexington Posts:10,054 Points:1,489,805 Joined:Nov 2008	Message Posted: Nov 1, 2012 10:55:33 PM Ignore 30mpg80 Report Abuse Pump it! Road trip!
Lukus Champion Author Halifax Posts:8,294 Points:1,676,480 Joined:Nov 2007	Message Posted: Nov 1, 2012 10:53:57 PM Ignore Lukus Report Abuse ok
gerreg All-Star Author Nebraska Posts:774 Points:1,648,305 Joined:Jun 2007	Message Posted: Nov 1, 2012 10:53:56 PM Ignore gerreg Report Abuse ok
nru Champion Author Twin Cities Posts:1,757 Points:984,885 Joined:Feb 2006	Message Posted: Nov 1, 2012 10:52:01 PM Ignore nru Report Abuse an oil company that makes money - news??
darkknight1 Champion Author Winston-Salem Posts:4,345 Points:897,785 Joined:Nov 2010	Message Posted: Nov 1, 2012 10:50:42 PM Ignore darkknight1 Report Abuse Not surprised.
DancingDee Champion Author Gary Posts:4,384 Points:1,056,765 Joined:Jul 2005	Message Posted: Nov 1, 2012 10:49:23 PM Ignore DancingDee Report Abuse No surprise.
carpenter4u Champion Author Virginia Posts:2,436 Points:617,895 Joined:Jul 2011	Message Posted: Nov 1, 2012 10:47:58 PM Ignore carpenter4u Report Abuse So I ask.... Where is the shortage over the next 100 years
vitaliyroz Rookie Author New Jersey Posts:78 Points:12,960 Joined:Nov 2012	Message Posted: Nov 1, 2012 10:47:20 PM Ignore vitaliyroz Report Abuse agree with menagerie1013. own it, then count on it
KhelbenArunson Champion Author Michigan Posts:4,451 Points:719,590 Joined:Apr 2008	Message Posted: Nov 1, 2012 10:41:38 PM Ignore KhelbenArunson Report Abuse Ok
momof5MN Champion Author Twin Cities Posts:4,064 Points:215,160 Joined:Feb 2011	Message Posted: Nov 1, 2012 10:36:03 PM Ignore momof5MN Report Abuse Good.
drz614 Champion Author Harrisburg Posts:2,309 Points:599,570 Joined:Aug 2011	Message Posted: Nov 1, 2012 10:33:53 PM Ignore drz614 Report Abuse fed, state, and local governments see tax revenue dollar signs dancing in their heads.
hpmossii Sophomore Author Pennsylvania Posts:208 Points:177,180 Joined:Oct 2012	Message Posted: Nov 1, 2012 10:26:45 PM Ignore hpmossii Report Abuse how long will it take to actually begin harvesting this oil?
menagerie1013 Champion Author San Diego Posts:2,365 Points:691,490 Joined:Apr 2011	Message Posted: Nov 1, 2012 10:23:33 PM Ignore menagerie1013 Report Abuse This news is only good if the resources are kept in the US.
DustyHorse Champion Author Virginia Posts:6,093 Points:1,393,570 Joined:Oct 2008	Message Posted: Nov 1, 2012 10:19:55 PM Ignore DustyHorse Report Abuse More good news.
Rednix Champion Author Miami Posts:6,163 Points:1,277,460 Joined:Jul 2009	Message Posted: Nov 1, 2012 10:18:46 PM Ignore Rednix Report Abuse ok
Mustache_33 All-Star Author Toronto Posts:900 Points:181,455 Joined:May 2012	Message Posted: Nov 1, 2012 10:18:10 PM Ignore Mustache_33 Report Abuse hm
hcivic Champion Author Virginia Posts:3,859 Points:2,266,690 Joined:Aug 2005	Message Posted: Nov 1, 2012 10:17:03 PM Ignore hcivic Report Abuse good!!!!!!
davenles Champion Author Texas Posts:3,206 Points:720,610 Joined:May 2011	Message Posted: Nov 1, 2012 10:13:28 PM Ignore davenles Report Abuse Good deal.
speedys Champion Author Utah Posts:7,027 Points:2,560,835 Joined:Nov 2005	Message Posted: Nov 1, 2012 10:11:39 PM Ignore speedys Report Abuse Excellent comment "cctech2012'.
MAC48 Champion Author Dallas Posts:1,550 Points:767,900 Joined:Dec 2006	Message Posted: Nov 1, 2012 10:08:53 PM Ignore MAC48 Report Abuse This is good news for Anadarko Petroleum share holders which a lot of the commenters to Gas Buddy very well could be through their ownership in mutual funds or their 401ks ownership of mutual funds or their pension fund’s ownership of mutual funds or all three. Yes Virginia, even the little people are share holders in most of the US corporations through their direct or indirect ownership through mutual funds. This is the kind of news that gives the environmental activist ulcers since they know that their dream of 100% “clean” energy will never be realized until all of the fossil fuels have been exhausted for all practical economic purposes.
g747 Champion Author Mobile Posts:4,551 Points:935,620 Joined:Jul 2009	Message Posted: Nov 1, 2012 10:07:51 PM Ignore g747 Report Abuse God Bless America.