production

Oil production continues to fall in Wyoming. The first records of the state’s production in 2017 show it’s down about 14% from the same time last year. 

Oil and gas commissioner Tom Fitzsimmons said that decline is likely to continue. To stop it, prices would need to stabilize first around $55 per barrel while they have recently been between $46 and $48 per barrel.

Fitzsimmons said prices are driven up if there's less supply, though that supply keeps on coming. He pointed to the state’s network of ducts

Paradise Valley Folklife Project Collection, Photo by Carl Fleischhauer / loc.gov

As we just heard, many Wyoming ranches are being purchased by out-of-state residents. Many of these ranches are up for sale in the first place because older ranchers don’t have heirs who want  -- or know how to -- run a ranch full-time. Or the kids can’t agree on what to do with the family ranch after their parents pass away.