Powder River Basin News Pulse March 2022

Posted: April 30, 2022

The Powder River Basin | March 2022

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 hydraulic 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

Total Rigs in Wyoming- 15 (+1)
Total Rigs in United States – 698 (+48)
Total U.S. Rigs 16% YTD

State Permitting Data
Permits Approved – 30

Powder River Top Producer

Top Producer by Oil – EOG

Top Producer by Gas – Carbon Creek

Basin Highlights

Biden administration to resume oil and gas leasing — again

Oil and gas leasing has been on pause in Wyoming for many months, a long awaited federal court ruling now allows the Biden administration to push ‘play’ again. Wyoming oil and gas producers are still recovering from whiplash brought on by the federal government back and forth decisions on how to run the leasing program. On March 18, 2022 the courts took into account the ‘social cost of carbon’ and set that amount at $50 per ton, up from $10 under the Trump administration. With clear guidelines in place the administration has said it will resume leasing auctions for oil and gas development on federal lands. 

Oil and gas ‘rebate’ bill dies in committee

Wyoming is one of the more resource rich states, supplying the rest of the country with oil, gas, and various mined minerals. A committee within the state met to decide the future of a rebate bill for businesses in the oil and gas industry as well as the mining industry. Named Senate File 84 the bill was designed to change state-level taxes to aid the industry workers who are already being taxed quite a bit, it should also help the state to be a more attractive state for prospective businesses. The bill was ultimately put on hold for a year due to an expected increase in federal royalty rates, once more is known on that front the bill can be changed in accordance.

Wyoming to Receive $23.9M in Electric Vehicle Infrastructure Funds

The Bipartisan Infrastructure Law (BIL) has already been put to use in various ways around the country. Wyoming is set to receive $23.9 million from the National Electric Vehicle Infrastructure (NEVI) which falls under the BIL. The money from NEVI will be used mainly to build electric vehicle charging stations all around the state. The charging stations will run on Wyoming power and will help to turn the highways in the state into “Alternative Fuel Corridors”.

Operators With Most Permits in WY

1Wexpro Company12
2Anschutz Exploration7
3Ultra Resources5
4Devon Energy3
Hyperlinks to available Q3 2021 Reports

Top Producers Oil

ChangeRankCompanymmbbls Production (Jan-Feb/22)
2Devon Energy1.09
3Chesapeake Operating1.08
4Anadarko (OXY)1.01
-45Continental Resources0.91
Hyperlinks to available Q3 2021 Reports

Top Producers Gas

ChangeRankCompanyMMCF Production (Jan-Feb/22)
1Carbon Creek15088
3Chesapeake Operating6582
4Anadarko (OXY)2951
5Devon Energy1771
Hyperlinks to available Q3 2021 Reports

Rig Count

Wyoming Oil Production

Wyoming Gas Production

Click above to subscribe to the RARE
PETRO Podcast Network or visit

The information contained in this newsletter is provided by RARE
PETRO Engineering, PLLC via the following sources unless otherwise

RARE Petro Analytics

Related Tags: News Pulse | powder river

Send Us a Message

Rare Petro Logo

1224 Washington Ave,
Suite 10
Golden, CO 80401

(720) 772-7371


Rare Petro Logo


Oil & Gas News Pulse


You have Successfully Subscribed!