Applications to drill for oil and gas in Wyoming hit 25,000
CASPER, Wyo. (AP) — The slide in oil prices hasn’t yet suppressed the growth in oil and gas companies seeking permits to drill in Wyoming.
The Casper Star-Tribune reports state regulators were working through 25,700 applications for permits to drill, as of last week, up from the then-record 10,000 in March.
From improvements in crude prices to high performing wells, positive signs of the potential of Wyoming’s Powder River Basin have producers rushing to be first in line with a permit.
In Wyoming, the producer that obtains the permit first becomes the “operator” of that drilling and spacing unity. They get more control over drilling, regardless of their working interest in the area.
Information from: Casper (Wyo.) Star-Tribune, http://www.trib.com