$12 million of remaining CARES Act funds will be used to fund the Energy Rebound Program
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.
“As energy demand continues to increase, private-land production states have seen a quicker rebound, one that has yet to reach Wyoming's federally-owned resources. Given the success of the inaugural Energy Rebound Program – a jobs program at its core – Governor Gordon's decision to initiate a second round makes perfect sense,” said Pete Obermueller, President of the Petroleum Association of Wyoming. “In 2020, despite a quick turnaround over the holidays, the men and women of the oil and gas industry stepped up – utilizing more than 100 service companies from 14 Wyoming towns to complete their work, supporting thousands of local jobs, and kickstarting more than $150 million in new production.”
The Wyoming Oil and Gas Conservation Commission will be administering the program. “We look forward to supporting the Governor's Energy Rebound Program by administering this additional funding. The program has proven to be successful in supporting projects and employment within the oil and gas industry,” stated WOGCC Deputy Supervisor Tom Kropatsch. “Our evaluation of the applications and post program reporting to ensure compliance with program rules will be essential in making this version of the Energy Rebound Program as successful as the first.”
The WOGCC will accept applications from June 15 through June 25th.
Read the entire announcement here.