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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:18,590 Points:1,606,595 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:18,354 Points:3,447,640 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:1,970 Points:2,523,410 Joined:May 2005	Message Posted: Nov 2, 2012 12:17:43 AM Ignore crreed1 Report Abuse ok
Blue_Cruzer Champion Author Lexington Posts:7,505 Points:1,666,660 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:2,210 Points:869,225 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:7,888 Points:1,541,385 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:10,548 Points:1,768,870 Joined:Apr 2008	Message Posted: Nov 1, 2012 11:48:39 PM Ignore clermont40miles Report Abuse Good. Produce.
Ticoman54 Champion Author Miami Posts:7,026 Points:1,488,020 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:5,976 Points:1,109,385 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:1,049 Points:210,265 Joined:Oct 2012	Message Posted: Nov 1, 2012 11:46:37 PM Ignore ruca2012 Report Abuse ok
skybiker Champion Author South Carolina Posts:7,277 Points:1,556,290 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 All-Star Author Arkansas Posts:987 Points:165,200 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:9,835 Points:1,610,075 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:7,907 Points:1,571,955 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:2,106 Points:1,540,495 Joined:Oct 2005	Message Posted: Nov 1, 2012 11:16:59 PM Ignore bcok Report Abuse great
bonzoonfmb Champion Author Florida Posts:1,767 Points:641,510 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:344,475 Joined:Dec 2011	Message Posted: Nov 1, 2012 11:11:56 PM Ignore nwsynthetics Report Abuse nice
wayoung56 Champion Author Alabama Posts:2,785 Points:815,310 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:1,256 Points:349,225 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:2,215 Points:607,330 Joined:Jun 2010	Message Posted: Nov 1, 2012 11:07:36 PM Ignore camaro_man Report Abuse wow
bby Champion Author Twin Cities Posts:5,709 Points:1,018,995 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:399,350 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:2,226 Points:326,985 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:2,128 Points:298,600 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:8,255 Points:2,263,590 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:17,605 Points:3,491,680 Joined:Jul 2003	Message Posted: Nov 1, 2012 10:57:33 PM Ignore DEG Report Abuse Speculation.
Darwin00 All-Star Author Mississippi Posts:827 Points:267,095 Joined:Dec 2010	Message Posted: Nov 1, 2012 10:55:34 PM Ignore Darwin00 Report Abuse That is cool!
30mpg80 Champion Author Lexington Posts:9,993 Points:1,484,930 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:8,268 Points:1,671,605 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:1,644,055 Joined:Jun 2007	Message Posted: Nov 1, 2012 10:53:56 PM Ignore gerreg Report Abuse ok
nru Champion Author Twin Cities Posts:1,726 Points:980,300 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:4,320 Points:892,060 Joined:Nov 2010	Message Posted: Nov 1, 2012 10:50:42 PM Ignore darkknight1 Report Abuse Not surprised.
DancingDee Champion Author Gary Posts:4,375 Points:1,055,110 Joined:Jul 2005	Message Posted: Nov 1, 2012 10:49:23 PM Ignore DancingDee Report Abuse No surprise.
carpenter4u Champion Author Virginia Posts:2,431 Points:613,070 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:4,425 Points:713,865 Joined:Apr 2008	Message Posted: Nov 1, 2012 10:41:38 PM Ignore KhelbenArunson Report Abuse Ok
momof5MN Champion Author Twin Cities Posts:4,034 Points:213,260 Joined:Feb 2011	Message Posted: Nov 1, 2012 10:36:03 PM Ignore momof5MN Report Abuse Good.
drz614 Champion Author Harrisburg Posts:2,284 Points:594,595 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:172,580 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:686,515 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:6,067 Points:1,387,845 Joined:Oct 2008	Message Posted: Nov 1, 2012 10:19:55 PM Ignore DustyHorse Report Abuse More good news.
Rednix Champion Author Miami Posts:6,143 Points:1,272,810 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:3,834 Points:2,261,715 Joined:Aug 2005	Message Posted: Nov 1, 2012 10:17:03 PM Ignore hcivic Report Abuse good!!!!!!
davenles Champion Author Texas Posts:3,181 Points:714,885 Joined:May 2011	Message Posted: Nov 1, 2012 10:13:28 PM Ignore davenles Report Abuse Good deal.
speedys Champion Author Utah Posts:6,999 Points:2,555,900 Joined:Nov 2005	Message Posted: Nov 1, 2012 10:11:39 PM Ignore speedys Report Abuse Excellent comment "cctech2012'.
MAC48 Champion Author Dallas Posts:1,546 Points:763,220 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:4,521 Points:929,670 Joined:Jul 2009	Message Posted: Nov 1, 2012 10:07:51 PM Ignore g747 Report Abuse God Bless America.