CHEYENNE, Wyo. (KIFI/KIDK)-Wyoming Governor Mark Gordon will launch a $15 million program Wednesday aimed at boosting employment in the oil and gas industry.
The Energy Rebound Program will be funded with CARES Act funding. It will target relief towards drilled, but uncompleted oil and gas wells that were unable to be recompleted, and plugging and abandoning projects that could not be finished due to impacts of the COVID-19 pandemic.
“When global demand for oil plummeted due to COVID, work stopped almost immediately in the oil and gas industry in Wyoming,” Governor Mark Gordon said. “This program is tailored to provide opportunities for employees who lost jobs when drilling ceased.”
The program will pay operators up to $500,000 per project, for work done on completions, recompletions, workovers, or plugging and abandonments before December 30, 2020.
The Wyoming Business Council will begin accepting applications Wednesday morning through November 23rd.
“We recognize this is a short window for applications, however, these funds are for projects that were planned, but could not be completed due to the effects of COVID-19. Companies who were ready to roll last March should have the information in hand. We will maximize the impact these dollars have on restoring economic and employment opportunities in Wyoming” said Randall Luthi, Chief Energy Advisor to Governor Gordon.
Gordon said priority would be given to projects that provide the greatest immediate economic and employment benefit to Wyoming.