News

New Mexico Flirts With 1 Million BPD Oil Threshold

Hellenic Shipping News | January 27, 2020

Rystad Energy expects oil production from New Mexico may have surpassed the 1 million barrels per day threshold in November, or possibly in December 2019*.

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Bucking the trend: New Mexico's oil and gas rig count stable amid national declines

Adrian Hedden, Carlsbad Current-Argus | January 14, 2020

New Mexico only lost one oil and gas rig in 2019, despite significant losses in the Permian Basin and neighboring Texas.

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U.S. oil production hits estimated record 13 million barrels per day

Jordan Blum, Houston Chronicle | January 15, 2020

U.S. crude oil production rose to an estimated record-high of 13 million barrels per day last week as the nation's energy growth crossed a new threshold, according to a weekly report from the U.S. Energy Department.

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Permian Basin jobs grow as oil and gas production booms in southeast New Mexico

Adrian Hedden, Carlsbad Current-Argus | January 10, 2020

Oil and gas operations in the Permian Basin saw dramatic increases in both production and employment last year, driving the U.S. to become a leader in energy development worldwide.

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Distributions from permanent funds approach $1.1B

Dan Boyd, Albuquerque Journal | January 23rd, 2020

New Mexico’s two largest permanent funds will pump an all-time high of nearly $1.1 billion into state schools, hospitals and other programs in the coming budget year.

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Permian Basin drives U.S. oil exports above imports

Adrian Hedden, Carlsbad Current-Argus | January 3, 2020

The United States exported more oil than it imported for the first time in history last year, as production boomed in the Permian Basin of southeast New Mexico and West Texas.

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