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Federal Reserve Board’s Lending Program Could Help Wyoming Oil and Gas

Casper Star Tribune - May 4, 2020

The Federal Reserve is expanding the scope and eligibility of its Main Street Lending Program to provide access to financial relief for small and mid-size companies with fewer than 15,000 employees or less than $5 billion in annual revenue.  The new guidelines will provide relief to the Wyoming oil and gas operators that were not eligible under the Payroll Protection Program.

Wyoming operators have been hard-hit by the global price war and by a drop in demand due to the pandemic and are just trying to stay in business and keep people employed.  “This program allows companies the ability to free up cash in the short-term to keep their doors open and Wyomingites employed.” Says the Petroleum Association of Wyoming.

Read the entire article here.