Although the bulk of Niobrara drilling and production lies in Weld County well to the north of ConocoPhillips' acreage, there has been a flurry of leasing activity from Weld County south through El Paso County. In an article last fall, The Denver Post listed EOG Resources, Noble Energy, Anadarko Petroleum and Chesapeake Energy among the largest leaseholders in the area with many others pursuing acreage positions. Last June, Ultra Petroleum purchased the 18,000 acre Banning Lewis Ranch just east of Colorado Springs to add to the 100,000 acres it already has under lease.
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ConocoPhillips Tebo 32-2 Niobrara test drilled by Precision Drilling rig 522. Near Watkins, Colorado. |