Colorado Oil, Natural Gas Activity Rising, But Employment Still at 15-Year Low

Colorado’s overall employment should return to pre-pandemic levels for 2022, but the state’s natural gas and oil sector will likely lag behind other industries in regaining jobs, according to a new report from the University of Colorado Boulder (CU Boulder).

“Improved prices are clearly what’s driving more drilling and increased production,” Richard Wobbekind, associate dean with CU Boulder’s Leeds School of Business, told NGI. “It’s in a positive direction.”

Wobbekind added, however, that the CU Boulder study — the annual Colorado Business Economic Outlook (CBEO) — shows the state’s oil and gas employment level is at its lowest point in 15 years.

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