Unformatted text preview: tical factors, such
as the implementation of the Clean Air-Clean Jobs
Act, will play a role. Carbon Dioxide
Colorado’s carbon dioxide production is marketed
primarily for enhanced oil recovery (EOR) operations and secondarily for use in the food industry.
In 2010, a total of 265 million cubic feet of CO2
were produced in four counties (Montezuma,
Dolores, Huerfano, and Jackson), with the total
production value estimated to be around $330 million. CO2 production levels and total values are on
track in 2011 and 2012 to see significant increases
over 2010. Total value in 2011 and 2012 may well
exceed $500 million, although this value is based
on uncertain pricing estimates. Drilling Permits
COGCC reports 5,996 drilling permits were
approved in 2010, representing a 16.2% increase
from the 5,159 permits approved the previous
year. For 2011, the commission approved roughly
3,227 permits in the first three quarters and is
continued on page 24
23 2012 Colorado Business Economic Outlook Mining and Logging
continued from page 23 projected to finish the year with approximately
4,800 approved permits in total. This decrease in
total permits is due primarily to a new two-year
permit scheme that became effective in late 2009.
Additionally, horizontal wells take lon...
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This note was uploaded on 02/11/2013 for the course MGMT 231 taught by Professor Yu during the Spring '13 term at Bauder.
- Spring '13
- The Lottery