News

New Mexico Seeks Clarity On Biden Oil Order

Heather Richards | E&E News | February 10, 2021

New Mexico — the largest federal oil producer in the country — is losing oil rigs to private lands in Texas because of industry confusion over Biden administration oil edicts, a state official said this week in a letter to the Interior Department asking for guidance.

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New Project in Permian Basin Demonstrates Potential for Cleaner Oilfield Operations

The oil and natural gas industry is the largest contributor to greenhouse gas emissions in New Mexico. Through a combination of increased regulation and innovation within the industry, public and private partners are working together to secure emissions reductions from the oil and gas sector while allowing the industry to continue to thrive and evolve here in New Mexico.

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New Analysis: Oil and Gas on Federal Lands Provided $1.5 Billion to New Mexico Budget

Accounted for 18% of State Spending in Fiscal Year 2020

SANTA FE, NEW MEXICO, February 2, 2021 – A new analysis of state revenue and spending reveals that oil and natural gas production and development on federal lands in New Mexico accounted for $1.5 billion in revenue and 18% of total state spending in fiscal year 2020. The New Mexico Tax Research Institute provided the analysis as an update to their December 2020 report outlining total oil and gas contributions as policymakers consider the impacts of the Biden administration’s recent federal leasing moratorium. The new analysis indicates federal lands are responsible for nearly 54% of the oil and gas industry’s $2.8 billion in state revenue.

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Biden's Freeze on Drilling Leases Disrupts New Mexico

Collin Eaton & Dan Frosch, The Wall Street Journal l January 28, 2021

SANTA FE, N.M.— Lance Wilbanks was looking forward to a rebirth for his trucking company, which saw its business hauling drilling rigs across southeastern New Mexico drop from around two dozen a month to just a handful during the pandemic.

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NMOGA Statement on Federal Oil and Gas Leasing Moratorium

SANTA FE, NEW MEXICO, January 27, 2021 –New Mexico Oil & Gas Association (NMOGA) President Ryan Flynn released the following statement today on President Biden’s announcement of a moratorium on oil and gas leasing on federal lands:

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Moratorium Order Shocks New Mexico Oil Industry

Stephen Hamway, Ryan Boetel, and Dan Boyd, Albuquerque Journal l January 22, 2021

The federal government’s 60-day suspension of new oil and gas leasing and drilling permits on public lands sent shockwaves through the industry in New Mexico and divided industry experts over potential impacts.

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