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Extraction Oil & Gas Inc
370 17th Street, Suite 5300 , Denver, Colorado, United States

Memberships : NA
Industry : Oil & Gas
Basic Member
Since Oct, 2019
About Company

Denver-based Extraction Oil & Gas is a domestic energy company focusing on the exploration and production of oil and gas reserves in the Rocky Mountains. We are committed to safe and responsible operations in the Greater Wattenberg Field of Colorado’s Denver-Julesburg Basin.  Extraction Oil & Gas was created in December 2012 and has since assembled a strong technical team with years of experience in horizontal drilling and completion operations. Our growth strategy includes high-quality acreage acquisitions and forming strategic joint ventures with select operators in the Greater Wattenberg Field.

OUR MISSION

Our mission is to build an energy company that can operate both sustainably and profitably. In fact, we believe that is the definition of a successful company. We strive to be the safest and most responsible operator in the DJ Basin, while providing the energy we all need. 

Our operations define us. We are committed to:

  • Embracing and driving change through innovation
  • Being accountable for the work we do
  • Building open and honest relationships

Wattenberg Field

Extraction Oil & Gas operates in the Greater Wattenberg Field of Colorado’s Denver-Julesburg (DJ) Basin, targeting development of the Codell and Niobrara formations.  The Wattenberg Field, discovered in 1970, was historically a major gas field. It produced over 4.0 trillion cubic feet (TCF) of natural gas from the J Sand, Codell, and Niobrara formations from nearly 20,000 wells.  In 2009, operators began experimenting with multi-stage horizontal completion techniques in the Niobrara Chalks. The early results were significant and the development of the field immediately began to evolve from vertical infill drilling to a horizontal resource play. Operators have now had outstanding results in the Niobrara A, B and C benches as well as the Codell Sandstone. Extraction is focused on the western portion of the field where both the Niobrara and Codell are prospective.

Exploration & Production Process

Safe and responsible energy development is revolutionizing U.S. energy supply, as well as providing jobs and other economic benefits to local, state and federal governments.  Unconventional drilling requires the same basic steps to move a well from an idea through completion and production. Below are six key steps to the energy development process.

  • Seismic – During this step, studies of the Earth’s subsurface are conducted to increase our understanding of the local geology. Geologists, engineers and other experts collaborate to identify a site that will ensure access to the targeted oil and gas reservoirs.
  • Site preparation – Sites are selected in consideration of several factors: safety, the surrounding environment, nearby property owners, and vehicle/pipeline access. By drilling multiple wells at a single location, Extraction is able to reduce the number of well-pad sites and in turn, reduce impact to the environment and inconvenience to the community
  • Drilling the well – It takes approximately 8 to 10 days to drill a well. During this process, multiple layers of protective steel casing are cemented in the ground to ensure nothing can get into, or out of, the wellbore being drilled. The depth of these wells is on average 1.5 miles below the earth’s surface and more than a mile of impenetrable rock separates the oil and gas reservoirs from the potable water table.
  • Completing the well – After the rig leaves, completion activities begin as soon as the equipment arrives and may take between three to five days per well. Each well is pressure tested before beginning completion activities to ensure the well is structurally sound. During this process a mixture of sand, water and a small proportion of other ingredients are pumped into the well to facilitate the release oil and natural gas. For example, guar is a food ingredient used as a thickening agent in completion mixtures. It is also a main ingredient found in Jell-O and chewing gum. All ingredients used in hydraulic fracturing mixtures are publicly available on a per-well basis at www.fracfocus.org.
  • Monitoring the well – Once a well begins production, excess equipment is removed. Only the wellheads, separators and storage tanks remain. Oil and natural gas produced by the well travels via truck or pipeline to market. Any water produced from the well will also be hauled or piped offsite for disposal. During this phase, the wells are constantly monitored (24/7) through automated equipment and if any issues arise, wells can be immediately and remotely shut-in. As an extra precaution, the well is checked daily by an operator who goes onsite to ensure all equipment is comprehensively maintained.
  • Reclaiming the site – At the end of the process, the well site is reduced to a much smaller size and fenced. The surrounding area is “reclaimed” with native vegetation and landscaped to camouflage the well site and help blend in with surrounding vegetation.

Our Commitment

When possible to do so, the use of electric rigs makes Extraction’s drilling operations much quieter than traditional oil and gas operations that use rigs powered by diesel-fueled generators. Where necessary, we also utilize sound walls to further mute or redirect noise caused by our operations.

We utilize practices that proactively eliminate emissions:

  • Vapor Recovery Units ensure emissions are captured from storage facilities.
  • LACT Units are a new technology used to collect oil from tanks in a closed-loop system that eliminates air emissions traditionally associated with the oil gathering and transportation process.
  • Pipelines are used where possible to eliminate emissions associated with trucking and to reduce the number of tanks located onsite.

Hydraulic Fracturing

Hydraulic fracturing, also called well completion, is a temporary process that takes, on average, three – five days per well. It involves injecting a mixture of 99.5 percent water and sand and 0.5 percent chemicals that are often found in common household products. All of these ingredients, by Colorado law, are disclosed on www.fracfocus.org. The pressure created by injecting this mixture creates hairline pathways, propped open by sand, for oil or natural gas to flow through the well. This process is necessary, as tight sands and shale formations are too dense to be economically produced without hydraulic fracturing.

What is Plugging and Reclamation of Wells?

As Colorado’s energy industry continues to grow, Extraction believes in replacing older technologies with state-of-the-art facilities and equipment. In Colorado, there are currently numerous vertical wells that were drilled decades ago and continue to produce. When appropriate and when it is possible to access the same reserves from another location through horizontal drilling, Extraction plugs and reclaims these wells. In these cases, the older vertical wells will be fully reclaimed by removing all equipment and plugging the well with cement. After the well has been plugged, it will be pressure tested to ensure integrity.  This process takes approximately two weeks. During that time, construction trucks may be seen entering and exiting neighborhoods for short periods. Once the well has been plugged, Extraction will remove all facilities and reclaim the land by planting native grasses and vegetation.  Plugging and reclaiming sites is not mandated, however Extraction sees the benefit of decommissioning older wells to beautify areas and utilize state-of-the-art facilities.

Company NameExtraction Oil & Gas Inc
Business CategoryOil & Gas
Address370 17th Street
Suite 5300
Denver
Colorado
United States
ZIP: 80202
PresidentMatt Owens
Year Established2012
EmployeesNA
MembershipsNA
Hours of OperationNA
Company Services
  • Oil Production
  • Gas Production
  • Oil Exploration
  • Gas Exploration
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