Gov. Gordon Announces Re-Launch of Energy Rebound Program
In a recent release, Governor Mark Gordon announced that up to $12 million of the remaining CARES Act funds will be used for the Energy Rebound Program.
This program is designed to get more people working in the energy industry, and in 2020 it provided capital for specific oil and gas projects throughout the state.
As Wyoming’s economy improves, the oil and gas industry is lagging behind due to external market factors. Currently, there are nine drilling rigs operating in Wyoming, compared to more than 30 in February of 2020.
In order to address this issue, the funds will target projects that bring immediate economic benefits, including Wyoming job growth and revenue, along with the environmental benefits of plugging and reclaiming oil and gas wells that are no longer in use, or near the end of their useful life.
In order to gain approval for funds, the projects selected will need to be completed by the end of the year. There is a cap of $500,000 for each approved project, with the Wyoming Oil and Gas Conservation Commission (WOGCC) administering the program.
The WOGCC will accept applications from June 15 through June 25.