Are you looking to enter the oil and natural gas industry? If so, think about starting in Wyoming. The state is America’s 8th highest crude oil-producing state. In fact, Wyoming produced more than 75 million barrels of crude oil in 2017 which is around 3 million more barrels than they produced a year before. The state boasts oil and gas investment opportunities. If you are still not convinced by its rapidly increasing crude oil production rate, you might be surprised to know that Wyoming also ranks 6th in the country for its natural gas production. Just ensure to hire the right company like Renegade Wireline Service Company to ensure a successful start and completion of the project. Keep reading to learn more about where to get started with your oil and gas production journey in Wyoming:
What to Expect in the Eastern Part of Wyoming
Eastern Wyoming is known for being a dependable source of natural resources. This is particularly true in Niobrara Shale. This area is the oil and gas world’s up-and-corner. The Bakken Shale has been in existence for many years and has achieved great success. The Niobrara Shale has gained traction as the next Bakken Shale. If you are looking to set up a new oilfield wellhead in the state of Wyoming, make sure to look for a good location along the Niobrara Shale. You can reach through the crude oil and natural gas by using the right fracking and drilling equipment. If you don’t own one, you can either buy or rent it form a wireline services company.
Investment Opportunities in the West
Recently, oil and gas production has started to pick up in Western Wyoming. One of the biggest natural gas extraction areas in America is Pinedale which supplies around 2 percent of the country’s natural gas supply. There is an increasing number of natural gas and oil wellheads in this region. If you want to set up your own oilfield wellhead in the states, consider the area near Pinedale.
While Wyoming is not the biggest crude oil and natural gas producer, it is a smart place to start your oilfield wellhead. Eastern Wyoming is a current hotspot for crude oil while the western part offers lots of natural gas opportunities. The eastern part of the state is said to be the next giant in terms of oilfield wellheads because the Niobrara Shale formation runs directly through it.