Wyoming Insight reports increase in natural gas, drop in oil rigs

CHEYENNE (WNE) — Natural gas prices increased, and the oil rig count dropped to the lowest level since 2021, according to Wyoming Insight, an energy index and business indicators report for the state.

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 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 eight in July, and the conventional gas rig count was four. At this time last year, there were 13 oil rigs and two gas rigs.

Total sales and use tax collections decrease year-over-year again. Mining collections continue to fall.

Total sales and use tax collections in July summed to $92.2 million, $2.5 million less (-2.6%) than July last year. 

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, Wyoming’s largest sector in terms of sales and 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 and hospitality and state and 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.

The July 2025 issue of the Wyoming Insight is available at the state of Wyoming’s Economic Analysis Division website, ai.wyo.gov/ divisions/economic-analysis.

This story was published on August 9, 2025.