This is an archived article and the information in the article may be outdated. Please look at the time stamp on the story to see when it was last updated.

WELD COUNTY, Colo. — A major oil and gas company plans to spend another $840 million on its operations in Colorado this year.

Anadarko Petroleum Corp. officials announced plans Wednesday to increase its operations in the Denver-Julesburg Basin. The DJ Basin includes Weld County, and stretches into Wyoming and Nebraska.

“In the DJ Basin, we expect our oil-production exit rate to be about 100,000 barrels per day, a 30 percent increase over the prior year,” company officials said in a statement released Wednesday.

In 2017, Anadarko plans to average “five to six operated rigs and drill approximately 290 mid-lateral-equivalent wells,” officials said.

The Greeley Tribune reports the increase in operations will have a positive impact on Weld County’s economy.

“Each rig brings with it the equivalent of 100 jobs to the area. And Anadarko plans to drill almost 300 new wells this year, which translates to steady work,” the Tribune reported.