News

USGS Identifies Largest Continuous Oil and Gas Resource Potential Ever Assessed

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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NM's oil boom marks $43 million milestone

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

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

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

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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Flynn: Why The Hysteria Over Hilcorp's Application?

Ryan Flynn | Farmington Daily Times | November 16, 2018

For months, a routine pool rule application has garnered an unusual amount of attention. 

Groups like the Sierra Club, San Juan Citizens Alliance, and other elected officials have weighed in to make false claim after false claim against one producer’s efforts to revitalize natural gas development in the San Juan Basin. 

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