The Enhanced Oil Recovery Institute (EORI) offers proactive solutions to Governor Gordon for the survival of Wyoming’s Oil and Gas Industry during this downturn.
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.
EORI Offers Imperative and Immediate changes to WOGCC Policies that May Improve Production in Wyoming:
• Eliminate the Idle Well Bond Policy
• Consider establishing a tiered Blanket Bond
• Incentivize EOR activity
• Establish a maximum 60-day time limit for reviewing and actioning water flood and disposal well applications
• Extend the time period of inactivity before a well is considered “Idle” to consecutive 24 months.
• Before the state demands that a well should be plugged, it should be evaluated to determine if it has any remaining recoverable reserves.