Thursday, August 23, 2012

Schlumberger Frack Crews Moving from Colorado Gas Fields to The Bakken

Link here (these links break early and break often).

Data points:
  • Bill Barrett Corp suspended drilling operations in Piceance Basin due to low natural gas prices
  • 70 workers from Schlumberger's Grand Junction (CO) office to North Dakota
  • About 60 workers remain at the Grand Junction office
  • Garfield County affected
  • Garfield County once led Colorado in drilling but is now ranked a distant second to Weld County, where oil drilling is main focus
Several story lines: the most important story line -- the faster the US gets its natural gas export program up and running, the better.  It's a win-win for everyone -- even east coast senators, but it will be interesting to see if east coast senators can see their way to support this.