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Mon February 23, 2009
Natural Gas Drilling Down
By Renny MacKay
Laramie, WY – The number of rigs drilling new natural gas wells is the lowest it's been in three years. That's the case across the country and in Wyoming.
The interim supervisor of the state's Oil and Gas Commission is Bob King. He says part of this is a seasonal adjustment: Wyoming has stronger drilling restrictions in the winter due to wildlife. "However, we're seeing the trend being lower compared to the same times in previous years," King says. "So, I don't think you can put it all off on seasonal issues this year. I think we're definitely seeing impacts from the slowdown."
King says the down economy has people using less natural gas. He says that's probably the strongest factor in lower gas prices. King hopes to see a rebound in drilling activity by the middle of the year. He says if that doesn't happen, Wyoming will make less money from taxes on oil and gas production...and the state may have to adjust its budget.