Is There New Life Ahead for Colorado’s Western Slope Oil and Gas Industry? Experts think so.
Colorado’s Western Slope Oil and Gas Industry could be showing some signs of new life after years of declining revenues. Demand for natural gas in the early 2000’s caused large gains, with some companies’ profits and operations hitting all-time highs. That demand however, has stagnated over the past decade-and-a-half. These market decreases have left Colorado’s oil and gas industries facing lower profits, fewer jobs and a general depression of the entire segment of the market. However, a new push for US demand could see a upturn ahead for the oil and gas industry.
Increased Production Ahead
Over the past 12 months, the market appears to be coming back around. In the face of what many of Colorado’s energy companies see as a shift in to a more pro-energy and anti-regulation governmental stance, manufacturing activity is returning; new rigs are beginning to broach the skyline and operations are gearing up ahead of hopeful increased production needs. One of the most applauded potential outcomes of the new shift being…more jobs.
With the Western Slope’s richness in natural gas, Colorado’s energy companies are embracing the positive upturn with future plans for increased revenues. Major energy companies such as Shear, Laramie and Mercator have all set sights on this possible revitalization of Colorado’s energy industry and hopes are high that a return to the boom of the 2000’s is at hand. READ MORE…
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