In fact, drillers are pumping a record 589,777 barrels of oil a day in the Niobrara region, which covers the Front Range up to Wyoming, despite deploying only half the drill rigs used in the last boom.
OPEC, the inter-governmental oil cartel, has limited new supply on the market so stockpiles of crude are falling significantly. It’s unclear how long OPEC’s production cuts will last, but they have been great for U.S. producers’ bottom lines.