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Tag Archives: New Mexico Oil and Gas Association

Eddy County seeks more funds

money

EDDY COUNTY — There’s no question that the oil and gas industry contributes a huge portion of New Mexico’s state budget. Thirty-five percent of the state’s general fund revenues can be attributed to the state’s oil and gas industry, according to a study by the New Mexico Tax Research Institute, partially sponsored by the New Mexico Oil and Gas Association. ...

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EPA’s proposed new methane rules could have big impact in New Mexico

Northwestern New Mexico’s San Juan Basin, a major natural gas and coal production area, could be a chief target of a proposed federal regulation aimed at dramatically cutting methane gas emissions. The draft regulation rolled out Tuesday by the Environmental Protection Agency seeks to reduce methane emissions related to oil and gas production by 40 percent to 45 percent below ...

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Black gold keeps black days away

The recent steady drop in crude oil prices might be the first sign of the end of New Mexico’s seven-year oil boom, meaning New Mexico’s economy could soon face challenges. One of the most prolific oil and gas regions in the United States, the Permian Basin is also one of the largest. It stretches about 250 miles wide and 300 ...

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Proposed BLM regulations draw industry criticism

FARMINGTON — On July 10, the Bureau of Land Management announced proposed updates to its 25-year-old oil and gas regulations in an effort to help ensure states, tribes and taxpayers get fair royalty returns on resources taken from public lands. The proposed rule changes, announced Friday, will update the BLM’s “Onshore Oil and Gas Order Number 3 (Order 3),” which ...

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EPA report on fracking is ‘great news,’ says NM Oil and Gas Association spokesman

EPA logo

FARMINGTON — A spokesman for the New Mexico Oil and Gas Association says a new study that found hydraulic fracturing has caused minimal harm to drinking water is vindication for the industry. “It’s great news for New Mexico and great for our country,” said Wally Drangmeister of the draft assessment released by the Environmental Protection Agency late last week. “This ...

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Has OPEC been out-gased?

How does New Mexico rank among natural gas producers? According to a ranking form The American Petroleum institute, the state not only dominates the U.S. natural gas market, but also outranks six OPEC nations. The ranking accounts for data from 2012, the most recent year offering consistent international data. For purposes of data comparison, the report ranks U.S. states against ...

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Crude oil production may slow, experts say

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FARMINGTON — Mancos Shale oil production was being counted on to expand and revive the natural resource-dependent economy in the San Juan Basin, but oil production could be slowing down, a state energy expert says. “The price of oil has set back the activity in the Mancos Shale,” said Dan Fine, associate director of the New Mexico Energy Policy Center. ...

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What the drop in oil prices means for the industry

oil barrel

CARLSBAD — The oil and gas boom in New Mexico has been going on for seven years, but the continuous drop in crude oil prices could mean an end to it. According to the U.S. Energy Information Industry, New Mexico is the fourth-largest net supplier of energy to the nation, largely due to its petroleum and natural gas production. According ...

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Natural gas small compressors may have a bright future

Erny Zah | The Daily Times (Farmington, N.M.) AZTEC — When it comes to natural gas production, sometimes size matters, or not. Compression units are the hearts of natural gas wells to keep them producing, and Poquito Compression, an Aztec company, might be the last stop before well owners cap a well. “We have the smallest compressors around,” said company owner ...

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