Gas Prices Fall And Wyoming Gets Stuck With Abandoned Fracking Wells
What happens to fracking wells after natural gas prices fall enough that they are no longer worth maintaining? Often, the New York Times reports, nothing.
The state of Wyoming is grappling with that issue as natural gas companies -- and profits -- disappear as prices plummet.
The state estimated that closing the 1,200 wells already abandoned would cost about $8 million.
Compounding the problem, state officials estimate that Wyoming may also have to plug 2,300 wells that are sitting idle but have not been entirely abandoned by operators.
Earlier this year, the Denver Post found that oil and gas companies haven't yet restored land around half of the 47,505 inactive wells in Colorado.
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