5:42pm

Mon November 14, 2011
Business

Anadarko Planning Major Expansion in Colorado

A Texas-based oil and gas company says it's planning a major expansion of its existing drilling operations in northeastern Colorado. 

The announcement came Monday from Anadarko Petroleum, which is already one of the biggest players in northeastern Colorado’s oil and gas industry. 

The company said yesterday that its tests have shown the Niobrara Shale formation could hold up to a billion and a half barrels of oil. That’s slightly less than what some geologists have predicted, but nevertheless the company is eyeing up to 2,700 new drilling locations in that part of the state. 

Anadarko is one of numerous companies – big and small – that have been scarfing up drilling permits in northeast Colorado, sight of one of the country’s next big energy land rushes. 

In a statement, Governor Hickenlooper, a former petroleum geologist, said he’s thrilled at the company’s investment plans for Colorado.  But the Democrat also said his administration will work to ensure that the highest safety and environmental standards are met by companies operating in the state.

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