The Colorado Oil and Gas Conservation Commission on Tuesday raised the tax it levies on oil and gas production in the state to fill a $3.4 million hole created by declining commodity prices – with the support of both industry and environmental groups. The support on the part of industry was the product of the […]
Whiting Petroleum
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 […]
Posted inBusiness, Energy, News
Colorado oil and gas drillers’ hedges will keep cash flowing — for now — as prices plummet
The steep drop in oil prices – the fallout of a dispute between Russia and Saudi Arabia – is laying low drillers in Colorado, but the toll would be worse if many of those companies hadn’t hedged their bets. Oil companies commonly use “hedges” – a sort of insurance policy – to smooth out some […]