Production in Rocky Mountains region is falling

08/26/2009 | Oil & Gas Journal

Natural gas companies operating in the Rocky Mountains region are beginning to see a drop in output, nearly a year after starting to halt rig activity as market prices declined. Prices, however, may continue to plunge as the volume of natural gas in underground storage exceeds the average of recent years, and data show Colorado production grew during the first half of 2009, Williams Exploration & Production executive Alan Harrison said. Speaking at the NAPE E&P conference, Harrison noted that the number of rigs in the state hit a high of 140 during the second half of 2008 but fell to about 40 recently.

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