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Mon January 5, 2009
2008 good year for oil and gas; 2009 uncertain
Cheyenne, WY – Industry officials say 2008 was a good year for oil and gas in Wyoming thanks to strong prices earlier in the year and good production.
But it appears 2009 could see continued low prices for Wyoming oil and gas, which could mean less money for state coffers and more small energy firms closing their doors.
Don Likwartz of the Wyoming Oil and Gas Commission says 2008 will mark the eleventh consecutive year that natural gas production increased in the state.
Prices for both oil and gas were strong through August before slipping late in the year.
But Likwartz said the state's oil production was expected to drop when final numbers for 2008 were tallied.
He says Wyoming producers should continue to receive lower-than-average prices for their products, mainly because of a lack of pipeline space to move it to markets out of the state.