Let’s Talk Big Oil & Gas in Colorado

Production Stats (2022):

• 5th largest crude oil-producing state
• 8th largest natural gas producing state
• 8th largest natural gas reserves
• 82% of the states production is coming from Weld County
• 157 million barrels of crude oil were pumped
• ~49,000 active oil and gas wells

Big Players (2022):

PDC ENERGY INC (Now Chevron):

• PRODUCED (BBLS): $28.85 million
• SOLD (BBLS): $28.87 million

KERR-MCGEE OIL & GAS ONSHORE LP:

• PRODUCED (BBLS): $27.03 million
• SOLD (BBLS): $27.04 million

NOBLE ENERGY (Now Chevron):

• PRODUCED (BBLS): $23.68 million
• SOLD (BBLS): $23.68 million

Oil Lobby:

• Xcel spent $509,556 lobbying between 2022-2023
• Chevron, Occidental Oil And Gas, Colorado Oil & Gas Association, Extraction Oil And Gas, Exxonmobil Corporation, and more currently have lobbyists that monitor bills and ballots
• In 2019 oil & gas lobbyists outnumbered legislators 1:5

What are Polis & Legislators doing?

• Tax incentives for electric vehicles
• Directed Colorado Oil and Gas Conservation Commission to regulate carbon capture projects
• Tasked regulators with coming up with rules for oil & gas companies aimed to reduce ozone
• Streamlining the process to install electric transmission lines and solar panels
• Increasing fines and accountability measures for oil and gas companies that break rules

Things to give us hope:

• Since 2010, Colorado’s total renewable electricity net generation has increased by 4x.
• 37% of energy produced in Colorado in 2022 was renewable
• In 2022, Wind power accounted for 4/5 of states renewable electricity
• In 2023, Colorado had more than 4,000 public electric vehicle (EV) charging posts which ranked us #7 in the nation
• Polis administration has directed car manufacturers in the state that by model year 2032, 82% of the cars on lots are required to be electric

How you can help:

• Contact your legislators about bills
• Join an advocacy group
• Share this post!

Sources:

• https://www.eia.gov/state/analysis.php?sid=CO
• https://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=MCRFPCO1&f=M
• https://coloradosun.com/2023/05/23/chevron-pdc-energy-merger-oil-gas-colorado/
• https://www.shalexp.com/colorado/companies
• https://www.bizjournals.com/denver/subscriber-only/2023/12/22/2023-oil-producers-in-colorado
• https://www.nrdc.org/bio/alana-miller/colorado-climate-progress-2023-year-review
• https://coloradonewsline.com/2023/05/11/polis-clean-energy-utility-regulation/