News

Study: $64 billion generated for NM by ExxonMobil investment in Permian Basin

Jessica Onsurez | Carlsbad Current-Argus | May 17, 2019

ExxonMobil's development of assets in the Permian Basin is estimated to provide $64 billion benefiting New Mexico over the next four decades, according to a report released by the company Friday.

The company said its investment in the Permian will represent $55 billion in capital expenditures in Eddy and Lea counties.

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State Land Office generating record revenue

Kevin Robinson-Avila | Albuquerque Journal | May 25, 2019

New Mexico is raking in record revenue hand over fist from activities on state-owned lands.

The State Land Office collected $852 million from leases, royalties and other payments in fiscal year 2018, a 28% increase from FY 2017 and the highest amount ever recorded, according to a new report from the economic advocacy group New Mexicans for Economic Prosperity.

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Lea advances to nation’s No. 2 county in oil production

Curts C. Wynee | News-Sun | May 12, 2019

We may be No. 2, but we try harder.

The old commercial line comes to mind when oil production data from various sources show Lea County hit the No. 2 spot in the nation in January.

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U.S. predicts that crude production will rise to 13.1M barrels a day in 2020

James Osborne | Houston Chronicle | May 7, 2019

U.S. oil production will hit 13.1 million barrels a day in 2020, the Energy Information Administration says in a new forecast.

That's a 19 percent increase over last year's average of 11 million barrels a day, with the forecast projecting most of the gains will come from the Permian Basin, which spans West Texas and Eastern New Mexico.

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Study shows drop in methane emission intensity

In The Pipeline | Paul Wedding | May 1, 2019

A new analysis by the New Mexico Oil & Gas Association shows a sharp drop in methane emission intensity in the Permian Basin during the last several years, despite a sharp increase in oil and gas production in the region.

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Researchers say methane estimates at gas wells were wrong

John Fialka | E&E News Reporter | May 16, 2019

Scientists made "major overestimations" of methane emissions from oil and gas production in the United States by relying on faulty measurements, according to new research sponsored by NOAA.

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