Powder River Basin News Pulse April 2021

Posted: May 12, 2021

The Powder River Basin | April 2021

Field Overview

The Powder River Basin, known for its coal deposits, is located in Southeast Montana and Northeast Wyoming. The basin is named so because it is drained by the Powder River. Major cities in the area include Gillete and Sheridan, Wyoming and Miles City, Montana. There is a recent resurgence in oil and gas production as a result of horizontal drilling and hydraullic fracturing. This resurgence is occurring mainly in the Wyoming part of the basin, which is historically known as the source of the basin’s oil.

State Drilling Statistics (End of March)

Total Rigs in Wyoming- 4
Total Rigs in United States- 440
Total U.S. Rigs up 8% YTD

State Permitting Data (End of March)

Permits Submitted – 528
Permits Approved – 43

State Top Producers

Top Oil Producer – EOG Resources
Top Gas Producer – Carbon Creek

Basin Highlights

UW, EORI Complete Study of Methane Emissions from Abandoned Wells

Abandoned and unplugged oil and gas wells are likely responsible for less than 1 percent of reported methane emissions from the state’s oil and gas operations, according to new research published by the University of Wyoming’s Enhanced Oil Recovery Institute (EORI). Sampling conducted at 10 such “orphan” wells in Wyoming’s Powder River Basin showed emission of minute amounts of methane, averaging 651 milligrams per hour. By comparison, the average dairy cow emits 11,900 milligrams per hour. Based upon that data and other considerations, the researchers calculated that the approximately 1,900 abandoned and unplugged wells in the state emit a total of 3.83 metric tons of methane per year. The UW researchers note that their estimate does not take into account the approximately 18,000 plugged wells in the state.

Article Link

Governor Mark Gordon Signs Bill Exempting Wyoming Natural Gas Flared For Cryptocurrency Mining From Taxation

Wyoming Governor Mark Gordon signed House Bill 189 into law on Thursday, April 15, legislation which will exempt the use of natural gas flares for purposes such as cryptocurrency mining from taxation. The process of mining cryptocurrency is hugely energy-intensive. Mining involves using an array of very powerful computers to solve random “problems” to verify bitcoin transactions. Miners send their verifications to the network pool and are then rewarded cryptocurrency. Gordon’s office said Thursday that House Bill 189 “provides an opportunity for oil producers to utilize natural gas that would normally be flared into the atmosphere for other productive purposes, including cryptocurrency mining.”

Article Link

Operators With Most Permits (March)

3Anschutz Oil26
5Samson Exploration13
Hyperlinks to available Q1 2021 Reports

Top Oil Producers (2021 cum) —————————_—-Top Gas Producers (2021 cum)

1EOG Resources1Carbon Creek
2Devon2EOG Resources
4Anschutz Exploration4Devon
5FDL Operating5Peak Power River
Hyperlinks to available Q1 2021 Reports

Rig Count

Wyoming Oil Production

Wyoming Gas Production

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