Wyoming Energy News

January 25

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 up 9 rigs from last week to 1,059 rigs, with oil rigs up 10 to 862 and gas rigs down 1 to 197
• U.S. rig count is up 112 rigs from last year’s count of 947
• Wyoming has gone down 1 rig from last week to 33
• Colorado’s rig count has increased by 1 to 35
• New Mexico added 4 rigs for a total of 112
• North Dakota is now at 57 rigs, up 3 from last week
• Texas has decreased by 4 rigs down to 517

Opening Prices from Bloomberg Energy on January 25

• West Texas Intermediate (WTI) opened at $53.17, slightly up from last weeks $52.23
• Brent Crude opened at $61.13, only $0.06 less than last week
• Natural Gas has gone down from $3.44 last week to $3.17

U.S. Energy Information Administration

• An estimated 755 million short tons of coal was produced in the United States in 2018; however, while coal prices rose for three of the five major coal-producing regions, the volumes of coal being produced was not enough to offset the decline in coal consumption. Learn more about coal production and consumption in the U.S.
• The EIA’s Annual Energy Outlook 2019 has been released and includes projections of the U.S. energy markets through 2050. Learn more about this year’s energy outlook.

Casper Star Tribune

• Energy advocates in Montana came together to discuss ways to boost the state’s electricity generation as coal-fired plants are expected to shut down in the coming years. Expanding the energy markets in Montana and finding new ways to support energy demand in the state will be a main goal of Montana regulators as the energy industry changes and develops. Learn more about the debates on sources for power generation in Montana.

Wyoming Public Media

• With the competitive prices from renewable energy and natural gas, the uranium markets are taking a hit, especially in Wyoming, as it is the number one provider of uranium in the United States. Finding new ways to increase the amount of uranium extracted may be the game changer the industry needs to keep uranium companies on the energy map. Learn more about the uranium industry.
• Energy is always a hot topic during legislative sessions. This year there are several bills being discussed that could affect taxes placed on all the big hitters of the energy industry: coal, wind, uranium, and oil and gas. Learn more about the proposed bills.