News

NM oil gushes to new highs

Kevin Robinson-Avila | Albuquerque Journal | July 24, 2018

ALBUQUERQUE, N.M. — New Mexico oil production is gushing to a new record this year, with output up 31 percent in the first five months of 2018, according to the latest statistics from the state Oil Conservation Division.

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America's Oil and Gas Industry Is on Pace for a Record Smashing Year in 2018

Matthew DiLallo | Motley Fool | July 14, 2018

Energy companies in America are on pace to produce 10.8 million barrels of oil per day (BPD) this year, according to a forecast by the U.S. Energy Information Administration (EIA). Not only would that sandwich the country between Russia and Saudi Arabia as one of the three largest oil producers in the world, but it would smash the record of 9.6 million BPD set in 1970. It marks a remarkable comeback for a country that had seen its output steadily decline for more than two decades before embarking on an epic rebound out of the ashes of the 2008-9 financial crisis.

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US expected to become world's top oil producer next year

David Koenig | Petoskeynews | July 15, 2018

The U.S. has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world's biggest oil producer for the first time in more than four decades.

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New Mexico Oil & Gas Drilling Rigs At An All-Time High As Permian Boom Continues

New Mexico Oil and Gas Association | July 24, 2018

SANTA FE, NEW MEXICO – Active oil and gas drilling rigs in New Mexico are at an all-time high of 103 rigs, according to the latest Baker Hughes inventory of rigs in the United States and Canada. New Mexico had previously reached the 103 mark twice, in October and December 2014, beating the previous top count of 101 achieved throughout 2006. New Mexico’s rig count now ranks third among states, following only Texas and Oklahoma.

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Small Towns Are Booming, Thanks to Rising Oil Prices

shutterstock_559271578.jpgRebecca Elliot and Harriet Torry | Wall Street Journal | June 28, 2018 

HOBBS, N.M.— Oil is booming again in the Permian Basin, and so are the fortunes of this sun-bleached town.

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NM could play key role in Interior revamp

Michael Coleman | Journal Washington Bureau | July 8, 2018

A plan to dramatically reorganize the U.S. Department of the Interior and shift some of its management out of Washington – possibly even to Albuquerque – is moving ahead under Secretary Ryan Zinke, but New Mexico’s senior U.S. senator wants more information before any federal money is spent.

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