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Hoping for a Price Surge, Oil Companies Keep Wells in Reserve
2015-12-25 22:03:00| Climate Ark Climate Change & Global Warming Newsfeed
New York Times: The price of oil keeps dropping. But that didnt stop a work crew from drilling a well recently on what was once a cornfield, carefully guiding the last sections of 13,000 feet of pipe spiraling into the hard Niobrara shale with a diamond-tipped bit. Their well, one of hundreds drilled by Anadarko Petroleum in eastern Colorados Wattenberg field this year, could someday gush as many as 800 barrels of crude oil a day. But Anadarko is not planning to produce a drop of crude from the well for at...
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