Wyoming sees rig count rise as oil climbs over $50/barrel but drilling ban could cost state billions By Brendan LaChance on January 21, 2021
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CASPER, Wyo. The price of crude oil has climbed above $50 per barrel and in the first week of Jan. 2021 reached the highest levels seen since Feb. 2020,” according to the U.S. Energy Information Administration.
As oil prices climbed in December, so did Wyoming’s rig count, according to a State of Wyoming Economic Analysis Division MACRO report released on Wednesday.
The report says that there were six oil rigs and one natural gas rigs operating in December 2020. While this was in increase from prior months, the rig count was down compared with the 21 oil rigs and six gas rigs operating in Dec. 2019.
The natural gas storage report from the EIA for the week ending December 11th indicated that the quantity of natural gas held in underground storage in the US had decreased by 122 billion cubic feet to 3,726 billion cubic feet by the end of the week, which left our gas supplies 284 billion cubic feet, or still 8.3% higher than the 3,442 billion cubic feet that were in storage on December 11th of last year, and 243 billion cubic feet, or 7.0% above the five-year average of 3,483 billion cubic feet of natural gas that have been in storage as of the 11th of December in recent years..the 122 billion cubic feet that were drawn out of US natural gas storage this week was less than the average forecast from an S&P Global Platts survey of analysts who had expected a 127 billion cubic foot withdrawal, but was higher than the average withdrawal of 105 billion cubic feet of natural gas that have typically been pulled out of natural gas storage during the same week over the past 5 years, and the
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A ban on new oil and gas drilling leases on federal lands would cost eight Western states $8.1 billion in tax revenue and $34.1 billion in investment in the next five years, according to a study released on Dec. 15 by the state of Wyoming.
The report, commissioned by one of the nation s top oil and gas-producing states, aims to push back against President-elect Joe Biden s campaign promise to halt leasing on public lands as part of a sweeping plan to tackle climate change. The economic predictions are devastating, to be blunt, to Wyoming, Governor Mark Gordon said during a virtual press conference to unveil the study, which was conducted by University of Wyoming Professor Tim Considine.
Biden Ban on federal drilling leases would cost eight U.S. states billions, study finds December 16, 2020 EnergyNow Media
(Reuters) – A ban on new oil and gas drilling leases on federal lands would cost eight Western states $8.1 billion in tax revenue and $34.1 billion in investment in the next five years, according to a study released on Tuesday by the state of Wyoming.
The report, commissioned by one of the nation’s top oil and gas-producing states, aims to push back against President-elect Joe Biden’s campaign promise to halt leasing on public lands as part of a sweeping plan to tackle climate change.
Ban on Federal Drilling Leases Would Cost 8 States Billions 1490wosh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from 1490wosh.com Daily Mail and Mail on Sunday newspapers.