Natural gas prices have declined steadily in recent months. The price of gas produced at the Opal Hub in south central Wyoming has dropped by about 60 cents since June.
Jim Robinson is the senior economist for the state Economic Analysis Division. He says gas development has grown in Wyoming, but it’s increasing drastically in other states as well, including Pennsylvania and New York.
This week’s Bureau of Land Management oil and gas lease auction in Cheyenne made a record amount of revenue.
The Wyoming BLM generated more than 49 million dollars from lease sales on 74 parcels of land, and an unheard-of 8 million dollars came from a single parcel.
An agency spokeswoman says the number of parcels auction off is determined by the number of nominations submitted from energy companies. In February, BLM auctioned off 31 parcels and in May, only 14.
