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GRAND JUNCTION, Colo.—Energy firm Williams Production is planning its 3,000th natural gas well in the Piceance (PEE-ance) Basin in western Colorado.
The basin’s leading gas producer began its natural gas work in the region in 1986. The latest well will be drilled about 7,800 feet deep and is located near Rulison.
The state Oil and Gas Conservation Commission says Williams had 5,465 of the state’s 37,270 active wells as of January. Its Piceance Basin operations are centered in Garfield County.
Williams employs 544 people in Colorado. It plans to spend up to $600 million to develop new wells this year, less than half of last year’s spending. Falling natural gas prices are a major factor.
