Wyoming Energy News

January 18

The School of Energy Resources features information about the energy industry on a weekly basis. Here is a recap of this week's stories.

Baker Hughes Rig Counts

Baker Hughes reports the following rig counts actively exploring for oil or natural gas.

• U.S. rig count is down 25 rigs from last week at 1,050 rigs, with oil rigs down 21 to 852 and gas rigs down 4 to 198.
• U.S. rig count is up 114 rigs from last year's count of 936.
• Wyoming rig count increased by 1 to 34.
• Colorado's count decreased by 1 to 34.
• New Mexico added 1 rig to 108.
• North Dakota increased by 1 rig to 54.
• Texas decreased by 11 rigs to 521.

Opening Prices from Bloomberg Energy on January 18

• West Texas Intermediate (WTI) opened at $52.23 down slight from last week's price of $52.28
• Brent Crude shows an increase from $61.19 last week to $61.33 this week
• Natural gas increased from $3.00 to $3.44

Office of Governor Mark Gordon

• Wyoming Governor Mark Gordon requested $10 million to the University of Wyoming School of Energy Resources for the purpose of constructing a 5-megawatt equivalent pilot project utilizing advanced coal-based generation technology that captures at least 75 percent of carbon emissions.

U.S. Energy Information Administration

• Natural gas-burning power plant operations vary during periods of cold weather - Certain plants in New England and New York switch between natural gas and petroleum-based fuels in certain situations.
• EIA forecasts world crude oil prices to rise gradually, averaging $65 per barrel in 2020 - EIA's January Short-Term Energy Outlook forecasts that Brent crude oil will average $61 per barrel in 2019.
• EIA forecasts renewables will be fastest growing source of electricity generation - Solar and wind are expected to be the fastest growing source of U.S. electricity generation for the next two years.

Casper Star Tribune

• Drilling wars, flaring and a new governor in Cheyenne