Noble joins Anadarko with exploration plans in the Wattenberg Field, they plan to pony up $1 to $1.5 billion


From The Denver Business Journal (Cathy Proctor):

Noble plans to invest $8 billion over the next five years in the Denver-Julesburg Basin, an area that includes northern Colorado and southern Wyoming, said Ted Brown, Noble’s Denver-based senior vice president in charge of its northern region operations, which includes Colorado.

In the Wattenberg area of the play, “it will be $1 billion to $1.5 billion a year,” Brown said in an interview Wednesday…

Noble said it think its can get 1.3 billion barrels of oil from its 840,000 net acres of mineral rights in the Wattenberg. The company said its wells in the area are currently producing oil and natural gas equivalent to 67,000 barrels of oil per day, and expects production to double by 2016.

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