EORI initiated a review of the impact of President Biden’s E.O. 139990 and the potential impact on Wyoming oil and gas production, access to existing and future reserves, as well as state revenue.
EORI’s analysis of the Federal Lease Moratorium on Wyoming’s conventional oil reserves is stark due to the fact that the federal government owns 68% of the federal minerals in the state. The federal lease moratorium will impact 75% of Wyoming’s legacy (current conventional) fields and 60% of drillable land. This will restrict access to 2.9 billion barrels of reserves and put at risk $12.9 billion in tax revenue.
EORI intends to advance a combined unconventional and conventional assessment of the impact of the administration’s Executive Order to Wyoming as new data and policy decisions become known.