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Numbers from the COGCC shows oil production in Colorado is up 27% year-over-year from 2013

According to the latest data from the Colorado Oil and Gas Conservation Commission (COGCC), oil production in Colorado is up 27% in 2014 from 2013. Total production in the state reached 82.8 MMBO in 2014, with 70.1 MMBO (about 85%) coming from Weld County, which sits on top of the Denver-Julesburg (DJ) Basin.

Matt Lepore, Director of the COGCC, said Wednesday he was surprised by the growth in production from 2013. “I did not think we would see a 20% increase, year-over-year, and we are well beyond that,” he said. Lepore cautioned that the numbers posted on the COGCC website are still in the process of being updated, but the final numbers “will be higher still,” reports Denver Business Journal.

In 2013, Colorado’s production reached 65.3 MMBO, which topped the previous record set in the 1950s. This year’s record setting production is more than twice what the state produced in 2011, when production totalled 39.4 MMBO.

Colorado

Data: COGCC Graph: Oil & Gas 360

 

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Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom’s conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company’s entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil & Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom’s Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil & Gas 360®. As a result, readers of EnerCom’s reports or Oil & Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.