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.
The Wyoming Energy Authority is a combination of multiple state agencies interacting with and advocating for the state’s energy industry and will operate as a service to state and stakeholders to improve the state’s energy program.
The State of Wyoming proposes to designate a statewide pipeline corridor network for future pipeline development associated with carbon capture, utilization, and storage (CCUS) as well as associated enhanced oil recovery (CO2-EOR) facilities across private, state and BLM-managed lands.
The Bloomberg Law publication announced the Bureau of Land Management (BLM) has released the Draft Environmental Impact statement (DEIS) for the Wyoming Pipeline Corridor Initiative (WPCI) and is now open for public comments through July 16, 2020.
In their study, Open Water Capital Partners highlights solutions to mitigate the long-term effects of a sustained downturn in coal, oil and natural gas and introduces strategies to limit the downturn’s impact while supporting Wyoming’s energy industry.
Open Water Capital Partners introduce strategies to curtail this impact to Wyoming’s economy with a three-pronged approach providing “immediate financial relief to operators, access to longer term liquidity amidst the volatility, and establishes a platform to more broadly diversify state revenue streams. This paper advocates the use of existing legislative authority to prosecute the following three programs:
The Institute predicts unconventional drilling will become less important while improved and enhanced recovery methods in conventional reservoirs will be of critical importance to Wyoming’s oil and gas sector due to expected oil prices. The Institute offers immediate changes be considered to the Wyoming Oil and Gas Conservation Commission (WOGCC) policies regarding the approval of idle well bonds to initiate construction.
The University of Wyoming’s School of Energy Resources (SER) Executive Director, Dr. Holly Krutka wrote an op-ed article in the Casper Star Tribune published on April 11, 2020. In the opinion piece entitled Krutka: Doubling down on energy innovation in a downturn, Dr. Krutka heralds Wyoming’s focus on innovation and technology advancements made possible through historic investments in research to help Wyoming stakeholders weather a downturn.
The Enhanced Oil Recovery Institute was in the spotlight this week as Camille Erickson from the Casper Star Tribune reported on their presence in the Casper community and the technologies and innovations the group brings to oil producers and the state of Wyoming.