Anadarko announces Colorado oil play

Anadarko announced new results in a Colorado shale play;

http://online.barrons.com/article/SB5000142405274870438320457704048...

 

They say there could be as much as 1.5 billion barrels of oil.

How will that affect us locally? Will it lesson interest in leasing here, driving down prices? Will it divert rigs and money, slowing the pace of development here?

There are lots of shale plays coming online and the total reserves of oil and gas are going up.  Will this increase in domestic supplies drive down prices and thus royalties in the coming years?

While this is good for the country as it reduces relying on foreign supplies, reduces our trade imbalance, increases jobs, increases tax revenue, and more we must still be aware of the affect it will have on us as these competing plays develop.

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015334grltd9mPermalink Reply by 015334grltd9m on November 16, 2011 at 7:13am

It only means we will be a net exporter.

Permalink Reply by Dave on November 16, 2011 at 7:51am

Appalachian Basin

The shale’s production by county is evolving. Northeast Pennsylvania is still the dominant production area, but the "C" counties in the central part of the state are busy, and many operators discussed development plans targeting those newer areas.  Not only are producing areas expanding, but so are the ranks of operators . As of mid-2010, the top four operators were producing about 65% of production.
"Rig movements are telling us that this won’t be the case in the near future," Chesapeake, Talisman, Range Resources and Cabot are in the lead currently. In the next decade, however, the Big Four’s piece of the pie will decline from 65% to 32%.

don't be scared help is coming to punch holes in the ground

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