The Associated Press reported from Denver today, Saturday 8, 2007 that the Exxon Mobil Corporation, which is the world's largest publicly traded oil company, plans to more than quadruple its current production of natural gas in northwest Colorado, by boosting its large role in the Rocky Mountain High energy boom.
Exxon Mobil Corporation plans to increase production in Denver’s Piceance Basin to 250 million cubic feet per day from 55 million cubic feet per day, said Mark Albers, an Exxon Mobil senior vice president. The Irving, Texas-based company, Exxon Mobil Corporation, is also considering more projects to lift total production to 1 billion cubic feet per day, Albers told energy analysts during a Lehman Brothers energy conference Thursday, September 6, 2007.
Exxon Mobil Corporation has a financial ownership stake in about 300,000 acres in the Piceance basin. Albers says the total recovery potential on the acreage could exceed 35 trillion cubic feet.
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