Wyoming oil: Is the oil barrel half empty, or half full

Published: Jul. 10, 2017 at 4:12 PM CDT
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Petroleum Association of Wyoming President Bruce Hinchey is touting a budding rebound for Wyoming oil, especially for the Powder River Basin and Campbell County.

Hinchey cites a dramatic increase in well applications and a higher rig count.

Hinchey says that he believes the state's oil industry is looking pretty good compared to last year.

Following a 12 percent decline in oil production in the first quarter of the year compared to 2016, Hinchey said producers are starting to pump more and are ramping up for a busy summer.

In all of 2016, 11 rigs operated in the state. So far through June this year, 25 rigs have been reported operating.

Applications for opening up new wells are up 43 percent so far.