Wyoming Insight: Oil Rigs Drop to Lowest Level Since 2021

The July 2025 issue of the Wyoming Insight is now available. This monthly report serves as an energy index and business indicators report for the state.

Highlights from this month's issue include:

Natural Gas Prices Increase. Oil Rigs Drop to Lowest Level Since 2021

The July 2025 natural gas price at the Henry Hub averaged $3.20 per million British thermal units (MMBtu), $0.18 more than last month and $1.13 more than July 2024. The Opal Hub natural gas price averaged $2.80/MMBtu in July, $0.18 more than last month and $0.89 more than July 2024.

The West Texas Intermediate (WTI) monthly average price for crude oil was $68.39 per bbl. in July, 0.3% more than a month ago, but 16.4% less than July 2024. Average active oil rigs were 8 in July and the conventional gas rig count was 4. At this time last year there were 13 oil rigs and 2 gas rigs.

Total Sales & Use Tax Collections Decrease Year-Over-Year Again. Mining Collections Continue to Fall.

Total sales & use tax collections in July summed to $92.2 million, $2.5 million less (-2.6%) than July last year. "Sales & use tax collections in July declined year-over-year for the fifth time in 2025," said Dylan Bainer, Principal Economist for Wyoming's Economic Analysis Division. Collections from the mining sector continue to decline, down $0.7 million (-7.5%) year-over-year. This is the 15th consecutive month that collections from the mining sector have declined year-over-year. The retail trade sector, which is Wyoming's largest sector in terms of  sales & use tax collections, saw the largest increase in collections, up $2.2 million (+5.8%) year-over-year.

Total Employment Continues to Increase.

Employment in Wyoming totaled 298,200 jobs in June 2025, 4,800 more (+1.6%) than June 2024. Leisure & hospitality and state & local government added the most jobs in June, each up 1,600 jobs year-over-year. The mining sector saw the largest job loss, down 900 jobs.