What has really got everyone’s attention here is that the Piceance Basin is prospective for the high-value oil liquids that are coming out of the deeper Niobrara and Mancos shales in this same area – unconventional sand/shale sequences that lie at depths down to 13,000 feet.
Much like the sleeping giant of the mature Permian Basin in Texas, where horizontal drilling is now outpacing vertical drilling and an old play turns into one of the biggest growth prospects in the US, the Piceance Basin is becoming a unique mix of maturation and growth.
According to independent researcher Oilshalegas.com, there is an estimated 300 trillion cubic feet of natural gas resource in Colorado’s Piceance Basin. Furthermore, heavyweight Piceance producers have recently documented an estimated 20% liquids recovery from that gas. Advanced technology has accelerated the development of this resource and as a result, expansive exploration and production projects can be found throughout the region.