Anadarko Petroleum Corp. said it plans to invest about $950 million into its operations next year in the Denver-Julesburg Basin, which spreads north and east of Denver to the state’s borders.
That’s up from about $840 million the company (NYSE: APC), one of Colorado’s biggest oil and gas companies, said in March it planned to spend in the state during 2017.
The company, based in the Houston suburb of The Woodlands, said it plans to operate an average of five drilling rigs and three fracking crews in Colorado during 2018.
The company also said it expects its oil and gas production from the basin to jump by about 30 percent next year compared to this year.
Read more at the Denver Business Journal: http://bit.ly/2Ac3eez