A tale of one basin, mostly.
Colorado's oil and gas industry is unusually concentrated. While the state has multiple basins with hydrocarbon resource, the overwhelming majority of current activity happens in one place: the Denver Julesburg Basin, centered on Weld County along the Front Range.
Within the DJ, the Wattenberg Field is the dominant producing area, where horizontal wells target the Niobrara and Codell formations at roughly 7,000 to 8,500 feet below the surface. The basin has been producing since the 1970s, with modern horizontal development transforming output over the past fifteen years.
If you inherited Colorado mineral rights, there is a very high chance they are in or near the DJ. Other basins in the state exist but see far less activity, and mineral ownership in those areas looks different in ways we can help you understand.