The emerging Niobrara Shale play stretches through Colorado, Nebraska, Kansas and Wyoming. In 2011, 26.5 million barrels of oil and 238.4 million cubic feet of natural gas were produced in the play. New estimates say that the play could be capable of producing as much as 3.6 billion barrels of oil over the next several years.
Advancements in technology paired with hydraulic fracturing, or fracking, have allowed energy companies to produce oil with a much smaller footprint and less impact on the environment. Weld County, the 8th most populated county in the state of Colorado, has more than 20,000 active oil and natural gas wells making it the 7th largest oil field in the nation.
Supporting Colorado Communities
Increased oil and natural gas production in the Niobrara Shale play has brought significant economic activity to the state. By 2014, Weld County’s assessed value is estimated to hit $7.5 billion – the 2nd highest assed value in the state. By the end of 2013, it’s estimated that Weld County will have $100 million in budget reserves.