News

USGS Identifies Largest Continuous Oil and Gas Resource Potential Ever Assessed

USGS Identifies Largest Continuous Oil and Gas Resource Potential Ever Assessed - New Mexico Oil & Gas Association

U.S. Department of Interior | December 6, 2018

Today, the U.S. Department of the Interior announced the Wolfcamp Shale and overlying Bone Spring Formation in the Delaware Basin portion of Texas and New Mexico’s Permian Basin province contain an estimated mean of 46.3 billion barrels of oil, 281 trillion cubic feet of natural gas, and 20 billion barrels of natural gas liquids, according to an assessment by the U.S. Geological Survey (USGS). This estimate is for continuous (unconventional) oil and consists of undiscovered, technically recoverable resources.

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Oil and Gas Boom in Permian Basin Boosts Local Charities

Oil and Gas Boom in Permian Basin Boosts Local Charities - New Mexico Oil & Gas Association

U.S. News | December 2nd, 2018

CARLSBAD, N.M. (AP) — With the recent oil and gas boom in the Permian Basin, charities are seeing an increase in donations from some of the oil companies that have come in, but the number of clients being served is also increasing as many workers can't afford rent and are looking for other help.

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NM's oil boom marks $43 million milestone

NM's oil boom marks $43 million milestone - New Mexico Oil & Gas Association

Associated Press | November 23rd, 2018 | Albuquerque Journal

SANTA FE – The State Land Office has set a record for its monthly oil and gas lease sale, generating more than $43 million for public schools and other trust land beneficiaries as the oil boom continues in New Mexico.

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Occidental Donates $145K To Fire Departments

Occidental Donates $145K To Fire Departments - New Mexico Oil & Gas Association

Michael Smith | Carlsbad Current-Argus | November 15, 2018

Those handling emergency duties across Eddy County are sharing a $145,000 donation from Occidental Petroleum.

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U.S. Expected to Produce Half of Global Oil and Gas Output by 2025

U.S. Expected to Produce Half of Global Oil and Gas Output by 2025 - New Mexico Oil & Gas Association

Christopher Alessi | The Wall Street Journal | November 12, 2018

Relentless American shale development is set to allow the U.S. to leapfrog the world’s other major oil and gas producers, with the potential for the country to account for roughly half of global crude and natural growth by 2025, the International Energy Agency said Tuesday.

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An Extraordinary Partnership For Extraordinary Times

An Extraordinary Partnership For Extraordinary Times - New Mexico Oil & Gas Association

Permian Strategic Partnership | Carlsbad Current-Argus | November 18, 2018

As leaders of major energy companies operating in the Permian Basin, we often engage in spirited competition with each other for quality workers, leases and equipment, and to make our individual companies the best operators and service providers in the industry.

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