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Governor Mead: Wyoming Mineral Valuation in 2010 is Second Highest Ever

posted Sep 12, 2013, 9:57 AM by Unknown user

5/30/2011 

OFFICE OF GOVERNOR MATT MEAD
State Capitol
Cheyenne, WY 82002
Ph. (307) 777-7437


May 30, 2011


******FOR IMMEDIATE RELEASE******

Contact:
Renny MacKay
Communications Director
renny.mackay@wyo.gov

 

Gov. Mead: WY Mineral Valuation in 2010 is Second Highest Ever

CHEYENNE, Wyo. – Governor Matt Mead announced today that the total value for minerals produced in Wyoming for 2010 hit $15.5 billion. That is up 23% from 2009 and is second only to the value from 2008. Governor Mead also said the oil, natural gas, coal, bentonite, trona and uranium all saw increased values in 2010.

“This is another sign that in Wyoming we are headed in the right direction,” Governor Mead said. “It is also a reminder of how big a role mineral production plays in providing us with revenue to keep taxes low and build our schools.”

This information will be provided to counties by June 1st and used by the local assessors to establish how revenues inside counties are distributed.

“The money from this mineral production is a shot in the arm for our counties that are still coming out of the recession,” Governor Mead said. “I will continue to push for the state to share its portion of the revenue with cities and counties so they can invest now when the cost of construction is down and the prospects for economic development are high.”

The taxable value of oil production statewide was up 34% in 2010 compared to 2009. Natural gas was up by 30%, surface coal by 6%, bentonite increased by 89%, trona by 7% and uranium by 44%. The only production that showed a decline in value was sand and gravel, which went down by 13%.

“I will continue to push for consistent and predictable regulations from the federal government for these industries. This is needed for Wyoming’s 
prosperity and for the nation’s energy security,” Governor Mead said.

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