Oil prospects here lower than elsewhere
20.05.12
Morgan County may or may not take much part in the second oil and gas boom.
In eastern Colorado, oil developers are mostly looking at the Niobrara Shale Formation for oil and natural gas, said Chad Grimes of Bourland and Leverich Supply Co. during the Morgan Conservation District annual meeting Thursday.
The deepest and best oil reserves in that formation are around the Greeley area, he said. The formation thins as it goes east, and is only about half as deep by the time it reaches Morgan County. Further east, the formation is mostly good for natural gas.
That adds up to a shallow formation in the Morgan County area, and less chance for hitting oil, said Ken Strauch of JW Wireline Co.
Both of these men have done oil and gas exploration work for some time and are natives of Morgan County, said Larry Hoozee, president of the conservation district.
Nonetheless, some oil companies are leasing mineral rights in southern Morgan County, although they do not know until they drill whether or not those wells will produce anything, Strauch said.
Source: Fort Morgan Times