Niobrara oil, gas production expected to increase in March
Oil production in the Niobrara formation is expected to increase to 580,000 barrels per day in March, up slightly from February’s anticipated 573,000.
That’s according to the latest data from the U.S. Energy Information Administration. Oil production is increasing along with the price of oil, which has rebounded from a low of $43 a barrel last summer to more than $60 a barrel.
Gas production in the Niobrara also is expected to increase, from 4.81 million cubic feet per day to 4.86 million cubic feet per day.
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The Niobrara formation extends across several states but is concentrated in Weld County, which counts almost 24,000 active oil and gas wells.
Oil production in the Niobrara formation is expected to increase to 580,000 barrels per day in March, up slightly from February’s anticipated 573,000.
That’s according to the latest data from the U.S. Energy Information Administration. Oil production is increasing along with the price of oil, which has rebounded from a low of $43 a barrel last summer to more than $60 a barrel.
Gas production in the Niobrara also is expected to increase, from 4.81 million cubic feet per day to 4.86 million cubic feet per day.
The Niobrara formation extends across several states but is concentrated in Weld County, which counts almost…
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