Oil prices prompt production to go up
Laramie, Wyo. – Oil production in Wyoming is poised to increase after years of stagnation.
The University of Wyoming's Glen Murrell says the price of oil has pushed more companies to use advanced technology to extract the last remaining drops from mature oil fields.
The Wyoming Oil and Gas Commission says the state had over 10-thousand oil wells in March, down from the same period last year. Murrell says that's because companies are shutting down old wells and preparing them for new technology that might include using CO-2 to pump out more oil.
"It will probably pick up again next year," Murrell says. "Once they clean up those wells and worked the field up, production will most likely increase."
Murrell says oil prices haven't been elevated long enough to show an increase in production.