Pat Fulton oil pump

Wyoming Oil & Gas Conservation Commission Supervisor Tom Kropatsch said as of Feb. 7 there were 18 rigs standing in the Cowboy State in his monthly supervisor’s report. Converse County continues to lead the way with seven rigs.

By Cinthia Stimson

cinthia@douglas-budget.com

A deep sigh escaped from the old rancher standing at a gas pump. He looked up, locking eyes with the man pumping his own gas across from him.

The rancher sighed again, then said dejectedly, “I heard the gas prices were going to go down, but they’re not. They’re getting higher every week.”

GASSING UP?

The consumer was speaking about gas prices in Converse County, although we’re not alone here – this is the seventh straight week national gas prices have climbed, rising 4.6 cents from a week ago, standing at an average of $3.47 per gallon Feb. 14, according to GasBuddy.com

The national average is up 16.5 cents from a month ago and 97.2 cents per gallon higher than a year ago. The national average price of diesel has risen 8.9 cents in the last week and stands at $3.87 per gallon, the highest since July 2014, according to information on the GasBuddy.com website.

Glenrock’s prices are lower than Douglas’, with Eastgate Sinclair reporting $3.21/gallon Feb. 15.

Douglas’ gas prices are almost always higher than Glenrock’s.

On Tuesday GasBuddy reported $3.34/gallon at Loaf’N Jug, $3.32 at Maverik and Conoco, and at the Shell station, $3.62/gallon (all prices are for regular gasoline). Wyoming’s average is $3.34 per gallon.

It’s not looking good folks, at least for everyday consumers – however, it’s looking great for big oil.

OIL RISING

The price of oil has grown exponentially, considering that just about a year ago, oil companies couldn’t get $50 a barrel for their crude, the figure most big oil companies say they need to see to even operate.

As of Tuesday morning, West Texas Intermediate (WTI) stood at $92.68 a barrel, Brent was at $93.92 barrel, OPEC Basket was at $92.85 b/o, MARS US was bringing in $94.36 a barrel and Bonny Light $95.97 a barrel.

According to Oilprice.com writer Tsvetana Paraskova, prices slumped early on Tuesday after Russia said some troops are returning to bases, which the market interpreted as a possible sign of de-escalation of the tension following several days of warnings that Russia would invade Ukraine “any day now.”

CLOSE TO HOME

Wyoming Oil & Gas Conservation Commission Supervisor Tom Kropatsch said as of Feb. 7 there were 18 rigs standing in the Cowboy State in his monthly supervisor’s report.

Converse County continues to lead the way with seven rigs, followed by Campbell County with five rigs. Sublette County has three rigs, while Laramie County has two and Fremont just one.

According to Baker Hughes’ historical records, Wyoming’s rig count this time last year was just five.

“Wyoming oil production for November 2021 was 7,195,764 barrels of oil at this time of (the February) report – an increase in production by approximately 1% from this time last year,” he said.

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