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This decrease in total permits is due primarily to a

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Unformatted text preview: ger to drill and, if productive, can replace the need for multiple vertical wells. The monthly drill rig count in Colorado slowly increased throughout 2011, from 63 in January to 78 in October. As of August, the drilling of 1,789 new wells had been initiated in Colorado. Horizontal drilling is becoming a significant component of Colorado’s oil and gas activity. In 2010, 5.6% of all Colorado drilling permits issued were for horizontal wells, compared to 18.8% in September 2011. Weld County has been the overwhelming center of Colorado horizontal drilling activity for 2011, with 85% of all newly drilled horizontal wells. Employment The Colorado Department of Labor and Employment (CDLE) estimates that jobs associated with oil and gas extraction (including support activities) numbered more than 18,500 in 2010. This total is expected to increase to over 21,000 in 2011 and more than 25,000 in 2012. Coal The Colorado coal industry has experienced a 33% decline in production over the last seven years. In 2010, annual production from the state’s 10 mi...
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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.

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