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Colorado’s Western Slope Oil and Gas Industry Welcomes An Upturn

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.

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Oil Production May Hit Big In New West Texas Oil Field

Largest Oilfield in US History Offers Great Oil Production Estimates 

Geologists with the US Geological Survey announced on Thursday that they have found what may be the largest oilfield in United States history. The Midland Basin of the Wolfcamp Shale area in the Permian Basin by some estimates is believed to possess as much as 1.6 billion barrels of natural gas and 20 billion barrels of oil.