CASPER, Wyo. — Wyoming’s Economic Analysis Division released a December report on the state of the economy on Friday, Dec. 27.
Jobs in the oil and gas sector appear to be down compared with 2018.
“Oil and gas jobs numbered 12,400 in November, a decrease of 700 from a year earlier,” Principal Economist Jim Robinson wrote.
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Applications for oil drilling permits, on the other hand, have increased.
“Year-to-date applications for permits to drill for oil reached 27,632 through the end of November compared to 19,254 in 2018,” Robinson notes.
The price of natural gas was down compared with 2018, but the price of crude oil was up.
“The price of natural gas at the Opal Hub increased in December along with the price of crude oil compared to November values,” said Robinson. “The December 2019 price at Opal averaged $2.84 per million British thermal units (MMBtu) to date, compared to the $2.77 per MMBtu average in November 2019.”
“By comparison, the December 2018 average price was $4.77 per MMBtu. The West Texas Intermediate crude oil price averaged $59.20 per bbl. in December 2019, an increase compared to the November 2019 average price of $57.06 per bbl. and was $10.25 per bbl. higher than the December 2018 price.”