US says Colorado has 40 times more natural gas than thought

FILE - In this March 29, 2013 file photo, a worker helps monitor water pumping pressure and temperature, at an oil and natural gas extraction site, outside Rifle, on the Western Slope of Colorado. Federal geologists say western Colorado has about 40 times more natural gas than previously thought, and an industry spokesman says it’s enough to make it the second-largest formation in the country. The U.S. Geological Survey said Wednesday, June 8, 2016 that the Piceance Basin formation is believed to hold 66 trillion cubic feet of gas, up from 1.6 trillion in a 2003 estimate. (AP Photo/Brennan Linsley, File) FILE - In this March 29, 2013 file photo, a worker helps monitor water pumping pressure and temperature, at an oil and natural gas extraction site, outside Rifle, on the Western Slope of Colorado. Federal geologists say western Colorado has about 40 times more natural gas than previously thought, and an industry spokesman says it’s enough to make it the second-largest formation in the country. The U.S. Geological Survey said Wednesday, June 8, 2016 that the Piceance Basin formation is believed to hold 66 trillion cubic feet of gas, up from 1.6 trillion in a 2003 estimate. (AP Photo/Brennan Linsley, File)

By Associated Press June 8, 2016 3 min read

DENVER (AP) – Western Colorado has 40 times more natural gas than previously thought, but an immediate boom is unlikely because of low gas prices, government and industry experts said Wednesday.

The U.S. Geological Survey said the Mancos Shale formation in Colorado’s Piceance (PEE’-yahns) Basin holds about 66.3 trillion cubic feet of gas, up from 1.6 trillion estimated in 2003.

USGS cited data from commercial drilling companies and new research for the revision.

A trillion cubic feet of natural gas is enough to heat 15 million homes for a year, the U.S. Energy Department says.

David Ludlam, executive director of the West Slope Colorado Oil and Gas Association, said he doesn’t expect a rush to drill in western Colorado because current natural gas prices are too low. If prices rise significantly, companies would likely begin drilling, he said.