HomeBlogDrilling for Gas and Oil in Wyoming Moving Slow

Drilling for Gas and Oil in Wyoming Moving Slow

The gas and oil industry of Wyoming has recently had it rough and no one is quite sure exactly when things are supposed to get better. Drilling for oil and gas has decreased to the lowest rate experienced since 1999 – and to top it off, the price for oil is so low that petroleum companies aren’t even able to invest in the industry for further exploration.

Last summer, the price of a barrel of oil was more than $100. Even after recovering from a sharp decrease, prices this summer are only at $58. As of the end of April 2015 there were only 23 rigs searching for oil throughout the area of Wyoming. A major difference from the 61 in commission at the end of 2014.

Petroleum Association of Wyoming President Bruce Hinchey explained why low process are problematic for petroleum companies. “When we were at $80 a barrel, everybody was drilling, everybody was pretty happy, but when it gets to $40 or $50, they’re not making any money, or very little, and it’s not a good time to go out and expand their drilling programs.”

JD Fields Construction Group

JD Fields Construction Group

Prior to founding J D Fields & Company, Jerry Fields gained decades of experience in construction products and piling applications managing equipment rentals, material sales, and product operations. Coupled with his oil and gas experience, Jerry built a rock solid foundation of industry knowledge and relationships that allowed him and his partners to start the company in 1985. Incorporated in Houston, Texas, JDF quickly diversified into multiple construction markets and applications. Today, it is a premiere international source for natural gas pipe and piling products. Strategically positioned at the Port of Houston corridor, our flagship stocking facility has 40 acres of laydown area with steel processing and fabrication capabilities. We carry more than 50,000 tons of pipe and piling inventory throughout the states to serve North America, Canada, Mexico, the Caribbean and other international markets.

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