The Niobrara Shale formation is located in Northeastern Colorado, extending into Wyoming, Nebraska and Kansas. It has been compared to the successful Bakken Shale formation and some consider it to be one of the next major resource plays.  

Niobrara is situated at various depths and has diverse rock properties as it spans across multiple basins. The formation is approximately 150 to 1,500 feet thick and oil and natural gas can be found at depths ranging from 3,000 to 14,000 feet.