Drilling has been booming across the Niobrara shale formation, which covers much of northeastern Colorado, Wyoming, and Nebraska. That formation is now estimated to be a third bigger than first thought.
The Denver Business Journal reports that it may be capable of producing as much as 3.6 billion barrels of oil over the next several years. It’s that kind of possible domestic production that has energy companies and the government rethinking topics such as energy independence and eyeing possible expanded exports.
“We anticipate that this area will continue to reinvent itself, with new plays developing as technology advances. And now is no exception, this is a field that has been there but technology is allowing it to [be] accessible. It’s an extraordinary world class resource,” says the Colorado Oil and Gas Association's Tisha Schuller.
For every one job created in the oil and gas industry, Schuller says three more are created in support of the industry overall, such as construction and contracting. Both Anadarko and Noble Energy say they will continue to create jobs in the area as the Niobrara develops.
