Extraction

Colorado’s Oil and Gas Conservation Commission (OGCC) voted 5-1 last week to grant Extraction Oil & Gas Corp. a forced pooling exemption to move forward with a drilling project in the Denver-Julesburg (DJ) Basin outside of Denver.

Broomfield, CO, officials late Monday conditionally approved a 1,500-page comprehensive drilling plan (CDP) by Denver-based Extraction Oil & Gas Inc. for six well pads.

Denver-based Extraction Oil & Gas Inc. has found some midstream relief from added natural gas processing for production from the Wattenberg field in Colorado’s Denver-Julesburg (DJ) Basin.

Denver-based Extraction Oil & Gas Inc., whose exploration focus is trained in the Denver-Julesburg (DJ), is forecasting full-year 2018 net volumes to jump up to 76% year/year, averaging 87,000-93,00 boe/d, even with capital spending slightly below 2017.

With a development agreement secured with Broomfield, CO, Denver-based Extraction Oil & Gas Inc. stands ready to exploit its holdings across the Denver-Julesburg (DJ) Basin, executives said this week.

With both a successful initial public offering (IPO) and a favorable regulatory decision in its rearview mirror, Denver-based Extraction Oil & Gas LLC said Tuesday it expects average production this year to grow by about 17% at the midpoint compared with 2016.

Extraction Oil & Gas Inc. said it has agreed to sell more than 25 million shares of its common stock in a private placement for $457 million in gross proceeds, which it will use to replenish its coffers after closing on two separate deals to acquire acreage in the Denver-Julesburg (DJ) Basin in Colorado for $177 million.

Denver-based Extraction Oil & Gas LLC, the first U.S. exploration and production company to go public in two years, climbed 15% in its debut on Nasdaq Wednesday after pricing above expectations.

The city council in Greeley, CO, located in oil and natural gas-rich Weld County, on Tuesday overturned its planning commission and approved a 22-well development by a 5-2 vote.