Joshua Wolcott serves as the director of operations for Cimarron Resources, Inc., a diversified oil-and-gas company based in Denver. For Cimarron Resources, Joshua Wolcott has managed the planning and development of drilling operations across the nation. One of the most oil-rich areas is the Denver-Julesburg Basin. There, Josh Wolcott has managed a 40,000-acre project in Weld County and a 50,000-acre project in Sioux County.
Extending from northeast Colorado to southeast Wyoming and southwest Nebraska, the Denver-Julesburg Basin is one of the country’s most important sources of oil and gas. Spread across 70,000 square miles, this region has attracted drillers for over a century. Since oil was first discovered there in 1901, more than 20,000 producing oil and gas wells have been drilled, although many are now old or abandoned.
Since 2010, with the discovery of the Niobrara shale, the Denver-Julesburg Basin has received renewed interest. In 2013, companies spent $4 billion developing the area, with an additional $1 billion going toward the creation of plants, pipelines, and rail terminals to ship the products. Another reason behind the growth of drilling in the basin is the success of horizontal drilling with multistage, artificial stimulation technology. Experts estimate that the Denver-Julesburg Basin sits on 3.8 billion barrels of oil, which will make it an important resource into the future.