The Uintah Basin Small Business Development Center makes it their business to know the latest among the oil and gas industry as it affects the entire Uintah Basin economy. Here’s the latest report the Center shared this week: With the increase in Approved Permits to Drill (APD) in Duchesne County and the decrease in Uintah County, it was only a matter of time until the rigs migrated and they have. 4 of the 5 rigs in operation are in Duchesne County at present, according to Baker Hughes. Prices of Natural Gas have reached 7 year highs and we will feel it in our wallet when winter settles in. Natural Gas inventory levels are increasing but at a much slower pace than last year. Oil can be imported but getting Natural Gas from outside the USA isn’t as easy. This will probably be the trend until there’s a change in federal administration of leases.
