Anadarko Petroleum Corp., which estimates its Colorado reserves at the equivalent 1.5 billion barrels of oil, is set to spent about $1 billion this year on its Weld County operations, a company spokesman said.
In the last five years Anadarko, which is based in The Woodlands, Texas, spent $1.5 billion in the county, said Robin Hervig, a company spokesman.
Anadarko is one of the biggest operators in the Niobrara formation, a region of oil-shale development that stretches from south of Denver to the Wyoming.
In November 2011, , which are centered in Weld County, might hold 500 million to 1.5 billion barrels of oil.
In Weld County, the by oil and gas companies and leading to a flow of investment and activity in the area.
If the Wattenberg Field hold as much oil as projected , according to Pete Stark, a vice president for industry relations and at IHS, a Denver-based consulting firm.
Anadarko’s plans for Weld County were reported online Monday by the Greeley Tribune.
Mark Jaffe: 303-954-1912, mjaffe@denverpost.com or twitter.com/bymarkjaffe
