New Mexico’s Oil Output Rises Signaling a Modest Shale Recovery
Sheela Tobben, Bloomberg | July 30th, 2021New Mexico’s oil production surged to a record in May highlighting the Permian Basin’s role as the shale industry sees some recovery from the pandemic.
Oil and gas accounted for 18 percent of state’s economy in 2019
Mike Cook, Las Cruces Bulletin | July 30th, 2021A report issued in mid-July by the New Mexico Oil and Gas Association (NMOGA) and the American Petroleum Institute (API) shows that New Mexico’s oil and natural gas industry added almost $19 billion to the state’s gross domestic product in 2019, NMOGA said in a news release.
U.S. crude oil exports reached record levels in 2020 and remain high in 2021
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.
Cavitation Technologies Raises $1.5 Million for Permian Basin Project
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.
Leasing ban threatens the future of New Mexico
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.
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