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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:18,650 Points:1,612,445 Joined:Nov 2008	Message Posted: Nov 6, 2012 2:56:14 AM Ignore honda0105 Report Abuse cctech: you've made some good points.
boldrph Champion Author Topeka Posts:18,392 Points:3,454,565 Joined:Oct 2002	Message Posted: Nov 2, 2012 2:28:20 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 1, 2012 9:17:51 PM 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:2,000 Points:2,529,260 Joined:May 2005	Message Posted: Nov 1, 2012 9:17:43 PM Ignore crreed1 Report Abuse ok
Blue_Cruzer Champion Author Lexington Posts:7,535 Points:1,672,510 Joined:Mar 2007	Message Posted: Nov 1, 2012 8:55:33 PM Ignore Blue_Cruzer Report Abuse Sounds to good to be true.
suzmar Champion Author Texas Posts:2,213 Points:874,085 Joined:Jun 2006	Message Posted: Nov 1, 2012 8:53:39 PM Ignore suzmar Report Abuse Good news, now lets go after it.
1fulltank Champion Author Buffalo Posts:7,918 Points:1,547,235 Joined:Nov 2008	Message Posted: Nov 1, 2012 8:53:24 PM Ignore 1fulltank Report Abuse Probably more in the entire USA than originally thought.
clermont40miles Champion Author Cincinnati Posts:10,588 Points:1,774,820 Joined:Apr 2008	Message Posted: Nov 1, 2012 8:48:39 PM Ignore clermont40miles Report Abuse Good. Produce.
Ticoman54 Champion Author Miami Posts:7,051 Points:1,494,495 Joined:Oct 2008	Message Posted: Nov 1, 2012 8:48:23 PM Ignore Ticoman54 Report Abuse We need to develop our own resources NOW!
us4usa Champion Author Missouri Posts:6,003 Points:1,115,215 Joined:May 2008	Message Posted: Nov 1, 2012 8:48:10 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:1,079 Points:216,115 Joined:Oct 2012	Message Posted: Nov 1, 2012 8:46:37 PM Ignore ruca2012 Report Abuse ok
skybiker Champion Author South Carolina Posts:7,313 Points:1,562,440 Joined:Jul 2008	Message Posted: Nov 1, 2012 8:42:28 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:1,014 Points:170,525 Joined:Aug 2011	Message Posted: Nov 1, 2012 8:39:37 PM Ignore mrselfdestruct Report Abuse Can't eat oil
jrsva Champion Author Virginia Posts:9,866 Points:1,615,135 Joined:Jan 2006	Message Posted: Nov 1, 2012 8:34:55 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:7,937 Points:1,577,905 Joined:Nov 2008	Message Posted: Nov 1, 2012 8:25:50 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 8:20:06 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:2,131 Points:1,545,470 Joined:Oct 2005	Message Posted: Nov 1, 2012 8:16:59 PM Ignore bcok Report Abuse great
bonzoonfmb Champion Author Florida Posts:1,792 Points:646,535 Joined:Feb 2010	Message Posted: Nov 1, 2012 8:12:39 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 8:11:56 PM Ignore nwsynthetics Report Abuse nice
wayoung56 Champion Author Alabama Posts:2,815 Points:821,260 Joined:Oct 2006	Message Posted: Nov 1, 2012 8:11:13 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:1,286 Points:355,075 Joined:Jan 2012	Message Posted: Nov 1, 2012 8:09:11 PM Ignore naspa Report Abuse Will that easy the imports? If not, who cares?
camaro_man Champion Author Kitchener-Waterloo Posts:2,247 Points:613,970 Joined:Jun 2010	Message Posted: Nov 1, 2012 8:07:36 PM Ignore camaro_man Report Abuse wow
bby Champion Author Twin Cities Posts:5,739 Points:1,024,845 Joined:Nov 2009	Message Posted: Nov 1, 2012 8:07:12 PM Ignore bby Report Abuse ok
Shakleelady31 All-Star Author Fort Wayne Posts:571 Points:403,850 Joined:Jan 2012	Message Posted: Nov 1, 2012 8:04:29 PM Ignore Shakleelady31 Report Abuse Good news for America.
carinthuist Champion Author San Francisco Posts:2,255 Points:332,100 Joined:Mar 2012	Message Posted: Nov 1, 2012 8:03:23 PM Ignore carinthuist Report Abuse great lets use the source
5Golfer8 Champion Author Tucson Posts:2,148 Points:302,600 Joined:Jun 2011	Message Posted: Nov 1, 2012 7:58:08 PM Ignore 5Golfer8 Report Abuse As long as we use these resources for domestic needs.
camel1 Champion Author Minnesota Posts:8,280 Points:2,268,565 Joined:Jul 2006	Message Posted: Nov 1, 2012 7:58:01 PM Ignore camel1 Report Abuse it is only a projection, so doubt the accuracy
DEG Champion Author Las Vegas Posts:17,635 Points:3,497,630 Joined:Jul 2003	Message Posted: Nov 1, 2012 7:57:33 PM Ignore DEG Report Abuse Speculation.
Darwin00 All-Star Author Mississippi Posts:832 Points:272,495 Joined:Dec 2010	Message Posted: Nov 1, 2012 7:55:34 PM Ignore Darwin00 Report Abuse That is cool!
30mpg80 Champion Author Lexington Posts:10,061 Points:1,489,805 Joined:Nov 2008	Message Posted: Nov 1, 2012 7:55:33 PM Ignore 30mpg80 Report Abuse Pump it! Road trip!
Lukus Champion Author Halifax Posts:8,299 Points:1,677,455 Joined:Nov 2007	Message Posted: Nov 1, 2012 7:53:57 PM Ignore Lukus Report Abuse ok
gerreg All-Star Author Nebraska Posts:774 Points:1,649,155 Joined:Jun 2007	Message Posted: Nov 1, 2012 7:53:56 PM Ignore gerreg Report Abuse ok
nru Champion Author Twin Cities Posts:1,758 Points:985,105 Joined:Feb 2006	Message Posted: Nov 1, 2012 7:52:01 PM Ignore nru Report Abuse an oil company that makes money - news??
darkknight1 Champion Author Winston-Salem Posts:4,350 Points:898,760 Joined:Nov 2010	Message Posted: Nov 1, 2012 7:50:42 PM Ignore darkknight1 Report Abuse Not surprised.
DancingDee Champion Author Gary Posts:4,385 Points:1,056,910 Joined:Jul 2005	Message Posted: Nov 1, 2012 7:49:23 PM Ignore DancingDee Report Abuse No surprise.
carpenter4u Champion Author Virginia Posts:2,436 Points:618,645 Joined:Jul 2011	Message Posted: Nov 1, 2012 7:47:58 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 7:47:20 PM Ignore vitaliyroz Report Abuse agree with menagerie1013. own it, then count on it
KhelbenArunson Champion Author Michigan Posts:4,461 Points:720,040 Joined:Apr 2008	Message Posted: Nov 1, 2012 7:41:38 PM Ignore KhelbenArunson Report Abuse Ok
momof5MN Champion Author Twin Cities Posts:4,069 Points:215,385 Joined:Feb 2011	Message Posted: Nov 1, 2012 7:36:03 PM Ignore momof5MN Report Abuse Good.
drz614 Champion Author Harrisburg Posts:2,314 Points:600,545 Joined:Aug 2011	Message Posted: Nov 1, 2012 7:33:53 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:177,955 Joined:Oct 2012	Message Posted: Nov 1, 2012 7:26:45 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:692,240 Joined:Apr 2011	Message Posted: Nov 1, 2012 7:23:33 PM Ignore menagerie1013 Report Abuse This news is only good if the resources are kept in the US.
DustyHorse Champion Author Virginia Posts:6,098 Points:1,393,795 Joined:Oct 2008	Message Posted: Nov 1, 2012 7:19:55 PM Ignore DustyHorse Report Abuse More good news.
Rednix Champion Author Miami Posts:6,173 Points:1,278,660 Joined:Jul 2009	Message Posted: Nov 1, 2012 7:18:46 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 7:18:10 PM Ignore Mustache_33 Report Abuse hm
hcivic Champion Author Virginia Posts:3,864 Points:2,267,665 Joined:Aug 2005	Message Posted: Nov 1, 2012 7:17:03 PM Ignore hcivic Report Abuse good!!!!!!
davenles Champion Author Texas Posts:3,211 Points:721,585 Joined:May 2011	Message Posted: Nov 1, 2012 7:13:28 PM Ignore davenles Report Abuse Good deal.
speedys Champion Author Utah Posts:7,032 Points:2,561,810 Joined:Nov 2005	Message Posted: Nov 1, 2012 7:11:39 PM Ignore speedys Report Abuse Excellent comment "cctech2012'.
MAC48 Champion Author Dallas Posts:1,551 Points:768,670 Joined:Dec 2006	Message Posted: Nov 1, 2012 7:08:53 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 7:07:51 PM Ignore g747 Report Abuse God Bless America.