News

State anticipates boom in Oil Patch

shutterstock_559271578.jpgDan Boyd | Albuquerque Journal | December 22, 2017

SANTA FE – Southeastern New Mexico could be in line for an extended oil drilling bonanza that could pump millions – if not billions – of dollars into the state’s coffers in the coming years, House Speaker Brian Egolf said this week.

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New Mexico Jumps Up to 3rd-Largest Oil Producer in America, Sets Record High for Monthly Oil Production

NMOGASANTA FE, NM – Newly released data from the United States Energy Information Administration shows that oil production in New Mexico is booming, propelling the state up to the 3rd-largest oil producer in the United States in September and October, passing Oklahoma and California and trailing only Texas and North Dakota. EIA data also shows New Mexico hitting a record-high in monthly oil production, producing 16,367,000 barrels of oil with New Mexico on pace to set an annual oil production record in 2017.

 

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New Mexico oil and gas companies sign on to reduce emissions

rig_4x4-01.pngSusan Montoya Brown | The Seattle Times | December 13, 2017

ALBUQUERQUE, N.M. (AP) — Some of the biggest names in energy production in New Mexico have signed on to a national effort within the oil and gas industry to curb methane emissions as pressure mounts for states to enact more pollution laws.

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The U.S. Is Exporting Oil and Gas at a Record Pace

frack4x4-01.pngLaura Blewitt | Bloomberg Markets | December 12, 2017

The world’s largest oil consumer exported more hydrocarbons than ever before in 2017 and shows no signs of slowing down.

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Tax Bill Supports Oil And Gas Industry

taxes_NMOGATsvetana Paraskova / Oilprice.com / Dec. 04, 2017

The U.S. Senate passing the tax reform bill is pro-growth legislation that would help the domestic oil and gas industry, Jack Gerard, President and CEO of the American Petroleum Institute (API), said after the Senators passed the sweeping tax reform on Saturday.

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NM energy revenue increase is the largest in the nation for FY 2017

NMOGA_imageRachel Sapin / Albuquerque Business First / Dec. 1, 2017

New Mexico made $455 million from energy and minerals production on Federal and American Indian lands during Fiscal Year 2017, an increase of $86.5 million from the previous year.

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