March 8, 2019
March 8
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 11 rigs from last week to 1,027 rigs, with oil down 9 and gas
rigs down 2
- The U.S. rig count is up 43 rigs from last year’s count of 984, with oil rigs up 38
and gas rigs up 5
- The Wyoming rig count has remains at 36
- Colorado’s rig count remains at 34
- New Mexico is down 2 from last week to 105
- North Dakota is down 3 from last week to 53
- Texas has gone down to 502 rigs
Opening Prices from Bloomberg Energy on March 8
- West Texas Intermediate (WTI) opened at $56.43, down from last week
- Brent Crude opened at $66.08, slightly down from last weeks $66.48
- Natural gas opened at $2.87, slightly more than last weeks $2.81
U.S. Energy Information Administration
- EIA’s long-term projections show that most of the electricity generating capacity
additions installed in the US through 2050 will be natural gas combined-cycle and
solar photovoltaic. Learn more here.
- In recent years, the US has seen an increase in natural gas processing plant capacity
and output. Learn more here.
- In 2018, electricity generation reached record highs, increasing by 4% to meet demand.
Learn more here.
Jackson Hole News & Guide
- This week the Wyoming Legislature approved a supplemental budget bill including $17.4
million in new funding for the University of Wyoming. Shortly after taking office
Governor Gordon requested $10 million in funds for the School of Energy Resources,
not including other additional funds or grants. Read more.
Casper Star Tribune
- Wyoming lawmakers gear up to modernize oil and gas statutes during the interim to
catch u with advances in the industry driven by horizontal development. Learn more here.
- A federal oil and gas lease that was delayed for a year after offering sage grouse
habitat to industry sells for approximately $88 million. Read more here.
S&P Global
- Wyoming Governor Mark Gordon is in the decision making process regarding signing
a bill that would require utilities to seek buyers for their coal-fired power plants,
rather than closing them. The Governor is seeking to save the coal industry in Wyoming.
Read more here.
