Rockies

Colorado’s Ambitious GHG Reduction ‘Roadmap’ Targeting Energy, Transport Sector Emissions

Colorado’s Ambitious GHG Reduction ‘Roadmap’ Targeting Energy, Transport Sector Emissions

Colorado is proposing a Greenhouse Gas (GHG) Pollution Reduction Roadmap for the next decade, with fossil fuel use by cars and methane emissions from oil and gas operations squarely in the crosshairs. The draft plan issued Wednesday targets a 26% reduction in total GHG pollution from 2005 levels by 2025, and a 50% reduction by…

October 1, 2020
Ultra Emerges as a Private Wyoming Natural Gas Explorer with New Brand

Ultra Emerges as a Private Wyoming Natural Gas Explorer with New Brand

Long-time Lower 48 natural gas producer Ultra Petroleum Corp. has emerged from Chapter 11 with a new name and as a private operator, still focused on Wyoming prospects. The Englewood, CO-based producer in May filed for Chapter 11 protection for the second time in four years to eliminate debt exacerbated by low prices and stinging…

September 17, 2020
Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward

Oxy Takes $1.3B for Western Properties, Propels Permian Carbon Capture Project Forward

Occidental Petroleum Corp. on Wednesday padded its bottom line with a big deal to sell a bundle of western properties, while boosting another venture to develop a massive carbon capture facility in its No. 1 Lower 48 play, the Permian Basin. The Houston-based independent, better known as Oxy, agreed to sell some Colorado, Utah and…

August 20, 2020
Citing Threats to Grouse and Climate, Enviros Sue BLM to Scrap Colorado Drilling Plan

Citing Threats to Grouse and Climate, Enviros Sue BLM to Scrap Colorado Drilling Plan

A coalition of environmental groups has filed a lawsuit to jettison a federal plan that would allow oil and gas drilling on public lands in southwestern Colorado. The six western U.S. groups filed the lawsuit against the Department of Interior’s Bureau of Land Management (BLM) in U.S. District Court in Denver. The plaintiffs claim that…

August 20, 2020
Bonanza Creek, Highpoint Lift DJ Basin Volumes, Rein in Capex Amid Price Pressures

Bonanza Creek, Highpoint Lift DJ Basin Volumes, Rein in Capex Amid Price Pressures

A pair of prominent oil and gas companies active in the Denver-Julesburg Basin (DJ) are keeping capital expenditures (capex) in check while posting modest upticks in sales volumes. Bonanza Creek Energy Inc. and Highpoint Resources Corp., both based in Denver, reported substantial second-quarter losses, however, dinged by lower sales prices in the wake of the…

August 11, 2020
Colorado Governor’s Call for Energy Industry Collaboration Praised by PDC

Colorado Governor’s Call for Energy Industry Collaboration Praised by PDC

Colorado’s natural gas and oil industry has faced pressure from all sides in recent years, reviled by landowners and litigated by environmental groups, but Gov. Jared Polis has shown he can compromise, PDC Energy Inc. executives said last week. CEO Bart Brookman discussed second quarter results in a wide ranging conference call that hit on…

August 10, 2020
Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q

Crestwood Plans for Future Without DAPL, Expects Shut-In Volumes to Fully Return in 4Q

Crestwood Equity Partners LP is taking a three-pronged approach to ensuring its Bakken Shale customers are able to move their crude oil volumes to market in the event that the Dakota Access Pipeline (DAPL) shuts down, either temporarily or permanently. On the second quarter earnings call held Tuesday, CEO Bob Phillips said the commercial and…

August 5, 2020
Colorado Oil, Natural Gas Regulator Raises Mill Levy to Balance Budget Amid Pandemic

Colorado Oil, Natural Gas Regulator Raises Mill Levy to Balance Budget Amid Pandemic

The Colorado Oil and Gas Conservation Commission (COGCC) has adopted a mill levy rate increase in order to balance its budget amid revenue shortfalls caused by the Covid-19 pandemic and subsequent downturn in commodity pricing. Mill levies, the regulator’s main source of revenue, are property taxes whose rates are expressed in mills, which are equal…

August 4, 2020
Finally Toppled by Debt, Chesapeake in Bankruptcy

Finally Toppled by Debt, Chesapeake in Bankruptcy

Chesapeake Energy Corp., once a symbol of the American natural gas industry’s revival and a disruptive leader that helped spark the nation’s unconventional boom, filed for Chapter 11 protection on Sunday to wipe out $7 billion of debt.  The move follows months of speculation and years of cost-cutting initiatives at the Oklahoma City-based independent, which…

June 29, 2020

Turn in Rockies Natural Gas Prices Strengthens Ultra Balance Sheet

Natural gas heavy Ultra Petroleum Corp. got a lift in the first quarter from resurgent prices in the Rockies, which helped boost revenues and deliver a profit as the company continues to focus on stabilizing operations in the Green River Basin.

May 13, 2019
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