Small Gas Producers May Be Hit Hard
Cheyenne – State Oil and Gas Commission Supervisor Don Likwartz says small gas producers in Wyoming will be the most affected if the national credit crisis persists.
And he says those producers are already struggling with low prices for their product.
Likwartz says big operators like Encana and Shell should be able to survive the credit crunch because they should be able to get loans.
But most coal-bed operators in the state are small.
Likwartz says the productive Jonah and Pinedale gas fields in southwest Wyoming should weather the credit storm because more drilling is being allowed and there are four major companies operating in the fields.
Still, a struggling economy could affect the state by reducing demand for oil and gas products, which would cause prices to fall further.