Wyoming Governor Launches Energy Rebound Program to Aid Oil and Gas Industry

November 12, 2020 by Sean Trambley

CHEYENNE, Wyo. – Gov. Mark Gordon will use CARES Act funding to assist Wyoming’s economic recovery and boost employment in the oil and gas industry.

The Energy Rebound Program will utilize up to $15 million in CARES Act funding to provide business relief targeted towards drilled, but uncompleted oil and gas wells, wells that were unable to be re-completed, and plugging and abandonment projects which could not be finished due to the impacts of the COVID-19 pandemic.

“These funds will have a direct impact on Wyoming’s employment rate and put people back to work in our oil and gas sector which was impacted by COVID-19. It will provide opportunities for employees who lost jobs when drilling ceased,” Gordon said. “The oil and gas industry is a huge contributor to Wyoming revenues, employment, and its overall economy. These dollars will assist in our state’s economic rebound.”

Wyoming is the 8th largest oil and gas producing state in the country and the economic impact of the pandemic on the industry was sudden and widespread. 

When global demand for oil plummeted due to COVID, work stopped almost immediately, with oil and gas companies conducting a few activities to safely stop ongoing drilling and reclamation activities. This left many projects in limbo, awaiting capital to continue. 

The use of the funds will provide a stimulus to the economic recovery. Funds would be used to commence operations that would include the hiring of crews, many of whom would stay at hotels near the project, water acquisition, ordering of supplies and equipment for drilling and re-completions, and plugging and abandonment activities. 

“The Energy Rebound Program is an excellent use of the CARES Act funding,” House Speaker Steve Harshman said. “CARES funding was designed to address many of the disastrous economic effects stemming from the COVID and the collapse of much of Wyoming’s economy. The program will provide immediate jobs and long-term revenue for Wyoming.  Thank you to the Governor, his staff and industry leaders for their work on this initiative. Working together we can make Wyoming’s future bright.”

The Wyoming Business Council is expected to announce additional details of the program in the near future.

State News

Cherry Blossom Peak Bloom Date Announced
District of Columbia
Cherry Blossom Peak Bloom Date Announced
March 2, 2021
by TWN Staff

WASHINGTON - It’s hard to believe it’s almost that time of year again, but on Monday came word that the peak bloom for the cherry blossoms ringing the Tidal Basin in Washington is currently expected to occur April 2-5.  That means the most vivid of blooms... Read More

Once the Mainstream Model, Michigan GOP Embraces Right Wing
In The States
Once the Mainstream Model, Michigan GOP Embraces Right Wing

LANSING, Mich. (AP) — Josh Venable, a longtime Michigan GOP operative and chief of staff to former U.S. Education Secretary Betsy DeVos, can trace the arc of the state's Republican Party clearly."This was the state where to be Republican was defined by Gerald Ford and George... Read More

What NY Prosecutors Could Learn from Trump's Tax Records
In The States
What NY Prosecutors Could Learn from Trump's Tax Records

NEW YORK (AP) — Manhattan District Attorney Cyrus R. Vance Jr. fought for a year and a half to get access to former President Donald Trump's tax records.Now, thanks to a U.S. Supreme Court ruling, he will soon have them. But what will that mean for... Read More

Indian Country Gripped by Haaland Hearing for Top US Post
Political News
Indian Country Gripped by Haaland Hearing for Top US Post

FLAGSTAFF, Ariz. (AP) — For Native Americans, Deb Haaland is more than an elected official on track to become the first Indigenous secretary of the Interior Department. She is a sister, an auntie and a fierce pueblo woman whose political stances have been molded by her... Read More

Northam to Sign Death Penalty Repeal Bill
In The States
Northam to Sign Death Penalty Repeal Bill
February 22, 2021
by TWN Staff

RICHMOND, Va. - Virginia lawmakers gave final approval Monday to a bill that will end capital punishment in the Commonwealth. The legislation now heads to Democratic Gov. Ralph Northam, who has said he will sign it into law, making Virginia the 23rd state to stop executions.... Read More

Robinhood in the Hot Seat
Congress
Robinhood in the Hot Seat
February 19, 2021
by Victoria Turner

The decision by the online brokerage firm Robinhood to impose restrictions on customer trading at the high point of last month’s online trading frenzy was brought under scrutiny at Thursday’s hearing of the House Financial Services Committee. While Robinhood insists that its decision did not favor... Read More

News From The Well
scroll top