Wyoming Energy News

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. 

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