News

U.S. Energy Information Administration | July 20th, 2021Despite volatility in global oil markets, U.S. crude oil exports reached a record high in 2020. So far this year (as of July 9, 2021), U.S. crude oil exports have averaged 3.00 million barrels per day (b/d). The most recent four-week rolling average of U.S. crude oil exports reached 3.51 million b/d, according to our Weekly Petroleum Status Report.

Mark Madler, San Fernando Valley Business Journal | July 20th, 2021Cavitation Technologies Inc. has raised $1.5 million through the sale of 23 million units of common shares of its stock as well as warrants for future sales of more shares.

Industry Critical to State’s Post-Pandemic Recovery

Joseph Sanchez, Albuquerque Journal l July 18, 2021

Last month, a group of 24 New Mexico Democrats sent a letter to President Biden supporting the administration’s moratorium on federal oil and gas leases.

Felicity Bradstock, OilPrice l July 15, 2021

New Mexico, the Land of Enchantment, was concerned when Biden’s pause on oil and gas drilling leases took hold, but six months into the new administration the state’s oil industry continues to go from strength to strength. After uncertainty about political decisions concerning oil and gas, following a year of low demand that drove down both oil prices and production levels, New Mexico has surpassed North Dakota as the second-largest oil producer in the U.S. following a boost in oil production this spring, not seen since the pre-pandemic period.

Roswell Daily Record l July 12, 2021

New Mexico’s oil and gas industry has recovered in many ways during the past year, but an industry leader says state and federal regulatory and legislative efforts to restrict emissions and industry activity on public lands continue to present challenges.