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