NEWS RELEASE
January 30, 2019
Contact: Representative Mike Greear
Chair, House Minerals, Business & Economic Development Committee
mike.greear@wyoleg.gov
307.388-3399
WY Legislature Moves to Update & Modernize Oil and Gas Regulations
Joint Minerals, Business & Economic Development Committee Announces Plans for Interim Study Aimed at Updating State’s Oil & Gas Laws to Keep Pace with Industry
Joint Minerals, Business & Economic Development Committee Announces Plans for Interim Study Aimed at Updating State’s Oil & Gas Laws to Keep Pace with Industry
Cheyenne, Wyo. – Working with private and public sector partners and Governor Mark Gordon, leadership of the House and Senate Minerals, Business & Economic Development Committee announced plans for an interim study of Wyoming’s oil and gas regulations with the intention of modernizing the state’s laws to better align with current industry practices.
“The oil and gas industry has changed markedly over the past several years, with advances in technology, changes in public policy and global factors impacting production and sales,” said Representative Mike Greear, Chair of the House Minerals, Business & Economic Development Committee.
Rep. Greear continued, “However, Wyoming’s regulations have not always kept pace with the changing industry. It’s critical the Wyoming Legislature work in tandem with private and public sector partners on a comprehensive approach that modernizes our laws while protecting private property rights and encourages development.”
“Wyoming’s oil and gas producers are critical partners in our state and local economies,” said Senator Jim Anderson, Chair of the Senate Minerals, Business & Economic Development Committee. “The oil and gas industry employs over 7,000 people and generates more than $900 million annually for local and state government. We owe it to the industry, private landowners and Wyoming citizens to ensure we have smart, effective regulations in place.”
"As the oil and gas industry has evolved, so must Wyoming regulations," Governor Mark Gordon said. "We are already underway examining potential solutions and are looking forward to working with the legislature on developing a comprehensive approach."
The Joint Minerals, Business & Economic Development Committee plans to address a number of important issues impacting oil and gas production in Wyoming during the upcoming interim, including bonding, the acquisition of oil and gas leases, drilling practices and a host of other critical topics. Working with Governor Mark Gordon, industry and the Wyoming Oil & Gas Commission, the Committee will compile a list of key subjects to address and release them during meetings held in the spring.
“We are committed to a comprehensive approach to getting Wyoming’s regulatory framework up to speed,” said Representative Greear. “This means encouraging oil and gas development while protecting private property rights.
“To ensure that Wyoming’s oil and gas industry remains a vital part of our state’s economy requires a legal and regulatory framework that is efficient, effective, and responsive,” said President of the Petroleum Association of Wyoming Pete Obermueller. “We are eager to work with the legislature, Governor Gordon, the Oil and Gas Conservation Commission, landowners, and any other interested party that shares the goal of a vibrant and prosperous Wyoming.”
The House Minerals, Business & Economic Development Committee heard a number of bills this session related to oil and gas production. During the interim, the Committee will build upon these efforts.
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