New Mexico

Executives in the heart of the Lower 48 oil and gas patch have revised down their forecasts for domestic natural gas prices this year, according to the latest survey of industry activity and sentiment by the Federal Reserve Bank of Dallas. The Dallas Fed, as it is better known, conducts a quarterly survey of about…

The Bureau of Land Management (BLM) garnered almost $79 million from a recent natural gas and oil lease sale in New Mexico and Kansas. Forty-five parcels totaling 10,123 acres were auctioned across Cheyenne County, KS, and in Chaves, Eddy and Lea counties, NM. The New Mexico counties are in the heart of the Permian Basin’s…

The Permian Energy Development Laboratory is working in the largest producing basin in the United States to advance research on renewable energy, emissions management and natural resources. A memorandum of understanding recently was reached between the University of Texas at Austin (UT), six other New Mexico and Texas universities and two national laboratories to advance…

Oil and natural gas permitting in the Lower 48 slowed down sequentially in October, although the monthly permit count was up on both a year/year basis and when compared to pre-Covid October 2019 numbers, Evercore ISI data show. Operators filed a total of 3,308 permits last month, down 16% from September but up 25% versus…

Texas Pacific Land Corp. (TPL) and WaterBridge NDB LLC have formed an alliance that they say emphasizes sustainable oil and natural gas development across 64,000-plus acres in Reeves and Loving counties in West Texas, spanning the heart of the Permian Basin’s Delaware sub-basin. “This alliance covers a region of the Delaware Basin that offers some…

Matador Resources Co. has agreed to purchase Summit Midstream Partners LP’s Lane natural gas gathering and processing (G&P) system in New Mexico’s Eddy and Lea counties for $75 million. In connection with the deal, Matador “will assume certain takeaway capacity on the Double E pipeline, a FERC-regulated natural gas pipeline operated by Summit,” the Dallas-based…

Houston’s Enterprise Products Partners LP has a bundle of projects in the queue to expand Lower 48 natural gas, liquids and refined projects to serve domestic and overseas demand, the executive team said Monday. Seven projects are being constructed to expand processing, capacity and takeaway from Louisiana, New Mexico, Texas and beyond. Permian Basin natural…

Nearly 200 MMcf/d of the natural gas that ExxonMobil produces at Poker Lake, NM, in the Permian Basin have been independently certified for methane emissions management, the supermajor said Tuesday. The certification from MiQ is the first by a company for its associated gas production from oil, ExxonMobil said. The certification process also is being…

Oil and natural gas activity accelerated across Texas, parts of Louisiana and New Mexico during the first three months of 2022, but as Russia’s invasion of Ukraine continued, energy executives said they don’t foresee commodity prices surging to the end of the year. The first quarter survey of oilfield services (OFS) and exploration and production…