Wyoming Oil, Gas Downturn Continues to Take Toll on Economy
CASPER, Wyo. (AP) — A new report says low oil prices and the coronavirus pandemic continue to take a toll on Wyoming’s economy.
A global oil price war and the pandemic have caused petroleum operators to halt drilling plans, shut in wells and lay off workers in droves.
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The Wyoming Economic Analysis Division says only one rig in Wyoming was exploring for oil in Wyoming in September and none was looking for gas.
The Casper Star-Tribune reports oil prices in September averaged under $40 per barrel, down 6% from August and too low for many Wyoming producers to profit.
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