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Wyoming Energy News May 10

May 10, 2019

News

Several media outlets are reporting that Anadarko is canceling its deal with Chevron and is entering into a merger agreement with Occidential Petroleum.

According to AP News, Governor Mark Gordon says Wyoming can be part of solving the problem of climate change while producing more coal than any other. In addition, federal officials said U.S. demand for coal to generate electricity will keep sliding in coming months.

Renewables Now reports that power generation capacity from large solar parks and wind farms grew in the first quarter of 2019.

An Oregon company, NuScale Power, is designing small modular nuclear reactors that could work well with renewable energy according to NPR.

Rob Wallace, a member of our Energy Resources Council, has been nominated to assume the U.S. Department of Interior post of assistant secretary for fish, wildlife and parks according to the Gillette News Record.

Wyoming mineral owners in Laramie County formed the Wyoming Mineral and Surface Owners Association. Their goal is to educate mineral owners to be active on issues relating to their rights according to the Casper Star Tribune.

Baker Hughes Rig Counts

Baker Hughes reports the total rig counts for this week.

  • The U.S. rig count is down 2 rigs from last week to 988, with oil rigs down 2 to 805, gas rigs unchanged at 183, and miscellaneous rigs unchanged at 0.
  • The U.S. rig count is down 57 rigs from last year's count of 1,045, with oil rigs down 39, gas rigs down 16, and miscellaneous rigs down 2.
  • The Wyoming rig count dropped to 30.
  • The Colorado rig count remains steady at 33.
  • The New Mexico rig count is down to 102 from 106 last week.
  • The North Dakota rig count is down 1 to 56.
  • The Texas rig count is up 1 to 485.

Opening Prices from Bloomberg Energy May 10

  • West Texas Intermediate (WTI) opened at $61.64 up from $61.55 last week.
  • Brent Crude opened at $70.45 down from last week's price of $70.48.
  • Natural Gas remains steady at $2.59.

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