Posted inBusiness, Energy, News

Two Colorado oil companies announce merger, the latest in a consolidating industry

In a sign of the continued pressure to consolidate drilling operations, two of Colorado’s midsized oil and gas companies on Monday announced an all-stock merger to create a new company worth $2.6 billion. Bonanza Creek Energy and Extraction Oil & Gas said they will combine to create Civitas Resources, controlling 425,000 acres of leases across […]

Posted inBusiness, COVID, Energy, Environment, News

Colorado’s oil and gas producers are slashing budgets, closing wells as demand and cash flow dwindles

Oil and gas drilling in Colorado hit a historic low in May with only six drill rigs operating and an average for the month of seven drilling platforms – the fewest in the 28 years that oil field services company Baker Hughes has kept monthly records by state. In the Denver-Julesburg/Niobrara Basin, which extends along […]