54 Wyo companies receive funding through Energy Rebound Program

oilrigBighornBasin1000
A well site in the Bighorn Basin. (BLM Wyoming/FlickrCC)

A total of 54 applicants will receive funding for 216 energy projects through the relaunch of Wyoming Governor Mark Gordon’s $12 million Energy Rebound Program, the Wyoming Oil and Gas Conservation Commission (WOGCC) announced Friday.

“Wyoming’s economic recovery has not been uniform, and the utilization of some of the remaining CARES act funds is necessary and appropriate to help our oil and gas industry continue on the road to recovery,” Gordon said in the July 9 release.

The Energy Rebound Program provides business relief targeted towards oil and gas wells that could not be completed in addition to plugging and abandonment (P&A) projects that could not be completed due to impacts from the COVID-19 pandemic, per the WOGCC.

Originally implemented in November 2020 with $15 million in federal CARES Act funding, the Energy Rebound Program was designed to have a direct impact on a struggling Wyoming employment rate at the height of the COVID-19 pandemic, particularly in the oil and gas industry (County 17, Nov. 12).

That original funding was doubled the following month to $30 million using leftover CARES Act dollars from other projects after the number of qualifying applications overwhelmed the original allocation.

-- Advertisement – Story Continues Below --

The relaunch was announced in June 2021 by Gordon on the heels of a successful initial attempt to stimulate the oil and gas industry that utilized more than 100 companies in 14 Wyoming towns and kickstarted more than $150 million in new production (County 17, June 8).

The first round of funding proved to be a shot in the arm for many Wyoming-based service companies,” Gordon said in a statement. “This second round will add to that success.”

In total, the WOGCC received 105 applications encompassing 864 proposed projects. Of those applications, 96 companies and 744 of the projects met the program rules and were eligible for funding, per the release, which adds that the number of projects exceeded the available once more.

Companies that were selected for funding were notified of the decision on July 5 and, per program rules, were advised that only work conducted on the funded projects between July 5 and December 31 would be eligible for reimbursement.

The WOGCC anticipates sending additional information regarding post-program reporting and invoicing requirements, per the release.