Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Drilling for Dollars

I drove across the Piceance Basin (Colorado) this May and saw 3 rigs drilling on 10 acre spacing (640 acre spacing used to be the norm). Tight gas pools require close spacing which is great for drilling companies. Producers are looking at creative ways to cut costs.

Chinese labor for oil drilling eyed in Colo.

Chinese rigs, crews arriving in western Colorado

The cost of drilling in Colorado has nearly doubled since last year, EnCana officials said. Rates increased from $8,500 per day to $14,000 per day in one year.

Not Advice

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