The Colorado Oil Rush!

But not around here. Lol. Our rush is more likely to be in strip mining rare earth metals.

But the northern Front Range is in an oil lease fever. The lease gobbling is from Weld to El Paso counties where the Niobara formation lies.

This is similar to the Bakken Shale in the Dakotas and probably as productive. Another frakkin’ field that delivers lots of oil briefly. Few wells drilled 6000′ feet deep pay for themselves in these formations.

While the average onshore U.S. oil well yields about 300 barrels a month, Jake initially yielded 1,558 barrels a day, according to the company.

Houston-based Noble Energy Inc​.’s Gemini well in central Weld County initially yielded 1,100 barrels a day.

Those wells have been the exception and the Jake well’s production drifted down to 225 barrels a day this past March, according to an EOG investor presentation.

The winners here are likely to be the ranchers who hold out for big signing bonuses. Heavily urbanized areas need not apply!