UW EORI Report Looks at Impact of Federal Drilling and Leasing Moratorium
The University of Wyoming's Enhanced Oil Recovery Institute (EORI) has looked into the impact of President Joe Biden's temporary federal lease moratorium and found significant potential impacts on Wyoming oil and gas productions, as well as state revenue
EORI says its analysis of the federal lease moratorium on Wyoming’s conventional oil reserves is stark due to the fact that the federal government owns 68 percent of the federal minerals in the state.
The federal lease moratorium will impact 75 percent of Wyoming’s legacy (conventional) fields and 60 percent of drillable land, restricting access to 2.9 billion barrels of potentially recoverable oil reserves on federal lands and the associated $12.9 billion in tax revenue.
An interactive map illustrating EORI’s report may be found here.
EORI intends to continue studies on the impact of the Biden administration’s policies on production and revenue generated from both conventional and unconventional oil and gas fields in Wyoming as new data and policy decisions become known.
The full current EORI report can be found here.
KEEP READING: See states hit hardest by COVID-19’s impact on tourism