Wyoming’s Hidden Treasure: Vast Oil And Gas Reserves Await Extraction

Wyoming, a state rich in natural resources, continues to be a significant contributor to America’s energy environment. The state held 978 million barrels of crude oil reserves at the end of 2021, making up 2.4% of U.S. reserves. By March 2025, experts estimate 47 million barrels of technically recoverable oil will remain in upper Paleozoic reservoirs across the Wind River, Bighorn, and Powder River regions.

Natural gas is also abundant in Wyoming‘s underground formations. The state maintained 15,005 billion cubic feet of natural gas reserves at the end of 2021. The USGS has assessed 876 billion cubic feet of undiscovered, technically recoverable natural gas in key regions. Coalbed natural gas is particularly important, with thousands of wells producing this resource.

Oil production in Wyoming has seen impressive growth. Daily crude output reached 266,000 barrels in 2023, nearly matching 2019 levels. From 2009 to 2019, oil production doubled thanks to new drilling techniques and unconventional field development. The state is expected to produce over 95 million barrels of oil in 2023, representing a 3 million barrel increase from 2022. By October 2023, Wyoming had produced 6 million barrels of oil and 124.6 million MCF of gas for the year.

The Powder River Basin leads Wyoming’s oil production, with Converse and Campbell counties accounting for about 60% of the state’s total output in recent years. Laramie County in the Denver Basin has grown from representing just 2% of production in 2013 to becoming a major contributor. For natural gas, the Greater Green River Basin is the primary production site. Unlike Ohio’s struggling coal plants that operate at a financial loss since 2012, Wyoming’s gas and oil operations remain economically viable.

Wyoming’s petroleum industry creates thousands of jobs and generates substantial revenue. In 2017, the sector directly employed over 7,000 people with an annual payroll exceeding $668 million. Industry contributions surpassed $900 million through tax, royalty, and lease payments in a single year. The state ranks eighth nationally in crude oil production, positioning it as a crucial player in America’s energy independence.

With 10,598 oil-producing wells and 14,518 gas-producing wells across the state, Wyoming’s energy terrain remains robust. Ongoing drilling projects and technological advances in extraction methods promise to keep the state’s oil and gas sector thriving for years to come.