Piceance Basin - Piceance Basin Map - Oil & Natural Gas Colorado

Oil - Natural Gas News
Classified Ads - Oil & Gas
North America Shale - Index
Antrim Shale
Austin Chalk Formation
Avalon Shale
Bakken Shale Oil Field
Barnett Shale Natural Gas Field
Bossier Shale - Natural Gas Field
Cardium Shale Formation
Chainman Shale Discovery
Chattanooga Shale
Collingwood Shale
Cumnock Shale Formation
Duvernay Shale
Eagle Ford Shale Discovery
Exshaw Shale Formation
Fayetteville Shale Natural Gas Field
Granite Wash - Texas
Haynesville Shale - Natural Gas Field Map
Haynesville Shale Stocks
Horn River Basin Shale - Natural Gas Field
Huron Shale - Lower Huron Shale
Kern Oil Field - California
Marcellus Shale - Natural Gas Field
Monterey Shale
Montney Shale Formation - British Columbia Natural Gas Field
Niobrara Shale Oil Discovery
Permian Basin Oil Field - Texas
Piceance Basin
Smackover Brown Dense Formation
Tuscaloosa Marine Shale
Utica Shale - Oil & Gas Field
Wolfcamp Shale
Woodford Shale - Oil & Gas Field
Shale Jobs
Mineral Rights
China Shale
Alabama Shale Plays
ANWAR Oil Field - Alaska
Brazil Tupi Oil Field - Santos Basin
Beverly Hills - Los Angeles Oil Fields
Canadian Oil Sands
Green River Basin Oil Shale Formation
Offshore Oil Drilling
Oil Shale Gas Site Map

Piceance Basin - Green River Formation - Colorado Oil & Natural Gas Field

drupal stats

free hit counters

What is the Piceance Basin?  The Piceance Basin is located in northwest Colorado and stretches across 6,000 square miles.  Primarily natural gas, the Piceance Basin is in the Green River Formation area.  The Piceance Basin crosses the Colorado River and Interstate 70 and encompasses the following counties:  Moffat County, Rio Blanco County, Garfield County, Mesa County, Pitkin County, Delta County, Gunnison County and Montrose County.  There is an estimated 300-plus trillion cubic feet of natural gas resource in Colorado’s Piceance Basin.  Operators who are planning to invest in drilling in the Piceance Basin, hope to recover 60% to 80% of that natural gas resource.  Vested companies such as EnCana Corp. (ECA) and Williams Companies (WMB) are currently recovering an average of 1.2 to 1.4 billion cubic feet per well using advanced technologies such as drilling multiple directional wells from single pads and they are continuing research to develop other ways of recovering the “tight gas”.  There are currently 34 operating rigs in the Piceance Basin, 12 of those belonging to Williams Partners (WPZ).

Exxon Mobil Corp. (XOM) has been operating in the Piceance Basin since the early 1950’s recovering small amounts of gas that was fairly easy to extract.  However; they left the majority of the gas behind for years as it was too difficult and expensive to recover, until recently they began utilizing innovative technologies such as Multi-Zone Stimulation Technology (MZST) and Just-in-Time Perforating (JITP) system to again, begin recovering the gas.   

Williams Partners (WMB) is currently the largest player in the Piceance Basin and owns an approximate 190,000 net acres in the Piceance Basin.   

EnCana Corp. (ECA) is another company taking a large stake in the Piceance Basin.  They believe that they have access to roughly 90 Tcf of gas resource under the company-owned area of the Piceance Basin.  EnCana currently operates 7 rigs in the Piceance Basin oil play.   

Another Oil & Natural Gas Field in Colorado is the Niobrara Shale which is getting a lot of attention lately!

Piceance Basin Map
Piceance Basin

August 13, 2010:  Officials announced today that they plan to issue 6,500 permits to drill in the Piceance Basin located in northwest Colorado this year.  “We continue to have a pretty consistent high level of activity at this point,” Thom Kerr, permitting manager for the Colorado Oil and Gas Conservation Commission, said during a meeting of the commission.  

August 2, 2010:  The Federal Energy Regulatory Commission approved construction of the Ruby Pipeline, which will give Piceance Basin energy companies access to West Coast markets.  The pipeline was licensed in April and began construction in various areas on Saturday, July 31.  The pipeline will carry an approximate 1.5 billion cubic feet of natural gas per day, running from Opal, Wyoming to Main, Oregon. 

Companies drilling in the Piceance Basin - Piceance Basin Stocks

Exxon Mobil  XOM - The Piceance program has been progressing very well. We did see a nice ramp-up in volumes in the second quarter compared to the first quarter. In fact, we were at about 170 Mcf a day in Piceance. And so that's progressing nicely.

Encana ECA - We've had some excellent results so far this year in the Piceance Basin. Second quarter 2010 average production was 470 MMcfe/d, about 29% higher than at this time last year. Our capacity reduced production from 2009 came back online better than expected, and many of the Piceance wells that we've recently completed are performing above expectations. As a result, we have increased our 2010 average production guidance by 40 MMcfe/d.

Delta Petroleum DPTR - Delta DPTR has been drilling for natural gas in Colorado.  This definitely allows for the idea that our Piceance properties hold well in excess of 2 trillion cubic feet equivalent of reserve potential with a corresponding opportunity to experience substantial annual reserve growth through our increased drilling activities.  I’ll also go ahead and address a couple of comments that we saw this morning related to production growth at the Piceance Basin. The number that we have in there today is 44 million cubic feet equivalent which is a net number for the Piceance Basin. The gross number related to that interest is approximately 55 million cubic feet a day net.

Williams Companies WMB - The Piceance Basin, where our production is over 600 million a day, is a world class resource, as good as any of the Shale plays. We are committed to going forward in a very disciplined manner, and a strong growth outlook, and we expect 2012 recurring adjusted earnings per share to exceed our record 2008 results.  We believe that the Piceance is competitive with the best of the Shale plays.

Bill Barrett Corp BBG - Piceance Basin, Colorado

Piceance Basin, Colorado

Gibson Gulch – Current net production is approximately 136 MMcfe/d. In March 2012, the Company modified its full year capital program to reduce drilling at Gibson Gulch from three rigs to two rigs. The Gibson Gulch program serves as a "swing area" for the Company as it can substantially modify the drilling program in conjunction with broader capital plans and commodity prices. Gibson Gulch natural gas production is processed, at the election of the Company, exposing the Company to NGL pricing. The incremental benefit to production revenues related to natural gas liquids was $1.14 per Mcfe to the Company-wide realized price in the first quarter of 2012. Gibson Gulch operations offer strong margins due both to low operating costs and the currently higher revenues related to liquids. The program continues to be a key, lower risk development area for the Company.

At March 31, 2012, the Company had an approximate 99% working interest in production from 864 gross wells in its Gibson Gulch program.

PDC Energy PETD - PDC Energy PETD Piceance Basin - As part of the expanded capital budget, the Piceance drilling program has been increased from 12 to 17 wells. These additional five wells are being drilled in order to obtain further reserve and production data on the Company's SuperFrac completion pilot program initiated in late 2010. Early results from these completions are encouraging. PDC plans to release the drilling rig after drilling the five additional wells and spend the remainder of the year testing the SuperFrac completions. The Company's plan is to return to drilling in mid-year 2012.

James M. Trimble, President and Chief Executive Officer, stated, "We are extremely pleased with the recent results from our key operating areas and are particularly excited that our horizontal Niobrara inventory continues to expand. These combined factors led us to increase our 2011 capital budget, and places the Company in a solid position to execute on our production growth plans for the remainder of 2011 and into 2012."

Shale News

↑ Grab this Headline Animator