Severance tax-exemption.

This Wyoming bill (SF 134) provides temporary severance tax exemptions for oil and gas producers under specific conditions. It exempts new wells (after July 2019), wells undergoing workovers/recompletions, and tertiary recovery projects from severance taxes for 24 months. Exemptions are reduced or eliminated if oil prices exceed $80/WTI for sweet crude, $60/WCS for sour crude, or $6.00/MCF for natural gas at the time of production. The exemptions directly affect Wyoming oil and gas producers meeting these criteria, with partial exemptions applying during price ranges between $60-$80/WTI for sweet crude, $40-$60/WCS for sour crude, and $5-$6.00/MCF for natural gas.