Governor Mark Gordon has announced that up to $12 million of remaining CARES Act funds will be used to fund the Energy Rebound Program, which is designed to get more people working in the energy industry. In 2020 the Energy Rebound Program provided badly needed capital for specified oil and gas projects, including drilled but uncompleted ventures, workovers, and reclamation of oil and gas wells through the plugging and abandonment process.
EORI is looking for companies that have hard plans to drill a well in 2021 through the following emerging formations in the Powder River Basin of Wyoming: Frontier, Turner, Belle Fourche and Mowry.
Now in its 25th year, the Wyoming’s Oil and Gas Fair has brought industry leaders together to promote the very best in the oil and gas industry in Wyoming. In a world with many unknowns, rapidly shifting economic conditions, and an ever-changing regulatory environment, the landscape for the oil and gas industry is as it has never seen before.
The bipartisian legislation combines two priorities, the extension window for projects to begin construction and qualify for the 45Q tax credit to the end of 2030 and a direct pay option for the 45Q tax credits.
This extension window would provide project developers and investors the financial certainty and time horizon needed to complete current projects and launch many new ones to begin scaling up carbon capture, direct air capture and carbon utilization technologies to meet midcentury climate goals.
The direct pay option for the 45Q and 48A tax credits would allow recipients to receive the full value of the credits as an estimated payment on their tax return allowing companies to secure the private investment needed to finance projects, while avoiding the wasteful inefficiencies and added cost of tax equity transactions that constrain the very innovation that these tax credits aim to incentivize.
Mr. Graeme Finley joins the Governing Board with over 20 years of geologic experience and 14 years as a professional Geologist. Mr. Finley has served on the Wyoming Geologic Association’s Board from 2000-2012 in various capacities including Editor, Vice President, President, Field Conference Technical Sessions Chair, Field Conference Chair and Field Conference Committee Member. Graeme’s talents include reservoir characterization, computer-enhanced geologic analysis, horizontal well planning and geosteering, waterflood implementation and optimization and expert testimony at Wyoming Oil and Gas Conservation Commission hearings. Mr. Finley has worked for independent operators and as a consultant and has industry experience operating assets in Wyoming.
In the filing, Wyoming asks the Federal District Court of Wyoming for an injunction that orders the Secretary to hold quarterly oil and gas lease sales in Wyoming while the case is being considered, and orders the Secretary to hold the March and June 2021 Wyoming federal oil and gas lease sales as soon as reasonably possible.
The Carbon Storage Newsletter provides information on recent activities and publications related to carbon storage. It covers domestic, international, public sector and private sector news in areas such as: DOE/NETL Highlights, announcements, project and business developments, legislation and policy, emissions trading, science and publications.
The DOE has awarded $99 million to a pair of projects to continue their research into Phase III of the federal Demonstration of Large-Scale Pilot Carbon Capture Technologies program.