New Mexico Oil Production on the Rise

New Mexico oil production is on pace to reach 80 million barrels for 2012. You have to go all the way back to 1978 and 1979, to see production levels in this range. The increased trend in production shows up in reports on both the federal government’s Energy Information Administration website and the New Mexico Oil Conservation Division website. The increase in production is one of the main reasons economists are forecasting that $283 million in new funds will be available for the state in the upcoming legislative session.