Gas drilling feeling the economic pinch

Many in the natural gas business are finding themselves with fewer hours or no job

PICEANCE BASIN, Colorado

The Colorado Oil and Gas Conservation Commission counts 54 fewer rigs operating in Colorado between late September and March 2. COGCC staff said at an oil and gas forum Thursday the number of rigs in the basin dropped from a high of 111 in late 2008 to around 70 recently.

Energy companies said the cutbacks are based on the price of natural gas, an oversupply of gas without enough pipeline capacity, and concern over new rules approved by the COGCC. Others question how much of a deterrent the rules really are.

Glenwood Springs Post Independent