According to the U.S. Energy Information Administration, Colorado’s growth in crude oil reserves ranked third behind North Dakota and Texas in the latest survey of the amount of oil buried in fields across the United States.
Nationally, crude oil reserves (oil that can be pumped from the ground under current economic conditions using existing technology) grew by 9 percent, or 3.1 billion barrels, in 2013 compared to 2012.
Colorado had the third-largest increase in proved reserves of crude oil, with the state adding 411 million barrels.
We track this information because it points to greater investment into Colorado and a more stable economy. Be sure to follow us on Twitter where we talk about these kinds of topics and others that affect our real estate market. Feel free to ask us any real estate-related questions. Click here to contact us, to ask questions or suggest topics. We really listen.