Description
Describes exploration, development, and production activity of the gas and oil, coal, and mineral industries across the state in 2007. The report also includes information on the impact of these industries on the state’s economy. 64 pages. Digital PDF download. IS-75D
Hydrocarbon production was essentially flat last year, and when production reporting is finalized for the year, it is estimated that natural gas production will be up for 2007. Coal production was up slightly. Gold and silver production were down, whereas molybdenum production was up. Mining claims on federal land increased dramatically. New pipelines and processing facilities were under construction. Prices were up for all commodities except natural gas which is the biggest contributor to revenues (~50%).
The estimated total value of 2007 mineral and mineral fuel production in Colorado is $11.811 billion — less than one percent decrease from the revised 2006 total value of $11.846 billion. The total estimated value of oil, natural gas, and other gas production in 2007 is $8.850 billion, which is down three percent from the 2006 value of $9.110 billion. The value of the 2007 Colorado coal production is estimated at $1,075 million — up 10 percent from the revised 2006 value of $974 million.
Non-fuel mineral production — including metals, industrial minerals, and construction materials — the USGS Mineral Information Office estimates the value of the 2007 production to be $1,886 million — a seven percent increase from the revised 2006 value of $1,762 million. Molybdenum production and price increased. Although molybdenum prices were up 15% over the previous year, they were still significantly below the 2005 peak of $31.73 per pound.
