US oil, gas rig count jumps 18 to 424; Permian sees biggest rig add since pandemic
Starr Spencer, S&P Global l January 14, 2021
Houston — The total US oil and gas rig count leaped by 18 to 424 in the week ending Jan. 13, rig data provider Enverus said, with the Permian seeing its largest weekly gain since the pandemic began to affect markets last March.
Read moreOccidental to Strip Carbon From the Air and Use It to Pump Crude
Kevin Crowley & Akshat Rathi, Bloomberg Business l January 13, 2021
Deep in the Permian Basin, America’s biggest oilfield, Occidental Petroleum Corp. plans to build a facility that it believes could change the way the world thinks about fossil-fuel emissions. The globe’s first large-scale direct air capture (DAC) plant will remove carbon dioxide from the atmosphere and pump it deep underground, where it will remain for millions of years. The process would essentially be the reverse of what oil and gas companies do today. The goal is to lower emissions of the primary greenhouse gas responsible for global warming—and one day even produce a carbon-negative barrel of oil.
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Fresh signs of life point to resiliency of Permian Basin
Jens Gould, The New Mexican l January 3, 2021
When Sam Cobb sets out on U.S. 62 these days, he’s seeing more heavy-duty trucks.
Read moreDallas Fed Energy Survey: Oil and gas activity on the rebound, outlook improves
Staff, ABC 25 News l December 31, 2020
Activity in the oil and gas sector jumped in the fourth quarter of 2020, according to oil and gas executives responding to the Dallas Fed Energy Survey.
Read moreOil and natural gas deliver revenues to New Mexico despite pandemic
Susan Montoya Bryan, Associated Press l December 21, 2020
ALBUQUERQUE, N.M. (AP) — Oil and gas development infused $2.8 billion into New Mexico coffers during the 2020 fiscal year and marked its second-highest total revenue ever reported despite a global price war and plummeting demand amid the coronavirus pandemic, according to a report released Monday.
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News Release: Oil and Natural Gas Contributed $2.8 Billion to New Mexico Budget in FY 2020
SANTA FE, NEW MEXICO, December 21, 2020 – A new analysis from the nonpartisan New Mexico Tax Research Institute reports state revenue from oil and natural gas production in New Mexico totaled $2.8 billion in fiscal year 2020, accounting for 33.5% of total state spending. Despite lower commodity prices throughout the spring of 2020, record production kept the oil and
gas revenue at the second highest total ever reported.