The Petroleum Association of Wyoming (PAW) has released a statement in regard to Governor Gordon’s Energy Rebound Program announcement today, November 10th.
This program will utilize up to $15 million in CARES Act funding to provide business relief for the natural gas and oil industry. “The industry has seen unparalleled demand destruction as a result of COVID-19 and the resulting economic shutdown,” according to PAW.
Operators are eligible for up to $500,000 for:
- Completing drilled but previously uncompleted wells,
- Re-fracking wells, and/or
- Plugging and abandoning idle wells
“The Energy Rebound Program is very welcome news to our members and the industry as a whole,” said PAW President Pete Obermueller. “This program means immediate jobs in Wyoming’s natural gas and oil industry during this challenging time. Governor Gordon and his staff should be applauded for their strategic approach. Rather than a simple payment, the Governor has ensured that every dollar spent in this program will create jobs, leverage revenue returns to the state, accelerate important reclamation activities, or all of the above.”
The Wyoming Business Council will announce additional details of the program in the coming days.