A Patterson-UTI drilling rig operating for Ultra Petroleum Resources in the Pinedale Anticline ... [+] natural gas field, in Sublette County, near Pinedale, Wy. Here in the United States, a similar flat-lining moment took place in the state of Wyoming a few days later. It’s mind boggling and hard to capture the impact.” PAW estimates that each active drilling rig supports upwards of 100 jobs. For the state government, the oil and gas severance tax poured $382 million into the state’s coffers during that same year. With the state’s rig count now sitting at zero, at least temporarily, the recovery from those production losses will be some time in coming.

Source: Forbes August 08, 2020 14:26 UTC