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Permian News

Two bills focus on Navajo Transitional Energy Company


FARMINGTON – Securing funding for the Navajo Transitional Energy Company is the focus of a bill going before Navajo lawmakers. The company is requesting that $3.1 million be allocated from the tribe’s Undesignated Unreserved Fund Balance for corporate activities from March 1 to March 1, 2016. “NTEC does not receive any operational funding or does not share any of the ...

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Albuquerque City Council withdraws support for PNM’s plan to close units at San Juan Generating Station

FARMINGTON – Albuquerque officials voted on Monday to withdraw support for Public Service Company of New Mexico’s current plan to close two units at San Juan Generating Station. By a vote of 6 to 3, city councilors adopted a resolution directing the city of Albuquerque to withdraw its support for PNM’s plan, which would replace two stacks’ worth of lost ...

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US oil output is falling! Or maybe not

New Mexico Oil Well

NEW YORK – The immediate outlook for U.S. oil production has rarely been more important for the financial world, with traders scrutinizing every scrap of data for signs of a sustained pull-back in output. It has also rarely been harder to predict. Until late last year, a handful of energy analytics firms had honed the art of real-time oil production ...

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U.S. oil production is probably peaking right now: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. crude production will peak this month, according to revised forecasts published by the country’s Energy Information Administration (EIA). Output will average 9.37 million barrels per day (bpd) in April and the same in May before falling to 9.33 million bpd in June and 9.04 ...

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Earthquakes have shaken up the Permian


According to data gathered from the U.S. Geological Survey (USGS), over the last two weeks, three earthquakes have rattled the Permian Basin in its oil and natural gas regions. The information collected from the USGS shows that the earthquakes occurred along the Pecos and Reeves county lines.  The first earthquake hit the Richter scale with a 2.8 magnitude and was ...

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