In 2003, it was estimated that the Mancos Shale formation in Colorado’s Piceance Basin held about 1.6 trillion cubic feet of gas. Sounds like a lot of gas, right? Well, it turns out every survey underestimated Colorado’s potential as a global energy provider. New data released from the U.S. Geological Survey shows that number is actually 66.3 trillion cubic feet – about 40 times more natural gas than previously thought.
The U.S. Department of Energy said that “a trillion cubic feet of natural gas is enough to heat 15 million homes for a year,” according to the AP report that released this information two weeks ago. So if you do the math, Colorado has enough natural gas to heat an estimated 994 million homes for an entire year.
This discovery is one of the largest natural gas deposits ever measured and means more good jobs right here in Colorado and greater savings through decreased energy costs, both of which are directly linked to economic growth.
Without a doubt, the oil and natural gas industry is growing in Colorado and throughout the United States. In fact, Colorado has more natural gas in the Western Slope than the U.S. used in all of 2015! Today, thanks to technology like hydraulic fracturing, our state is poised to to become the second largest natural gas producer in the U.S. and a global leader in natural gas. And that’s the greatest discovery of all.