New Mexico

New Mexico Governor Envisioning State as Clean Energy Model

New Mexico Gov. Michelle Lujan Grisham told a U.S. House subcommittee recently that she sees the leading oil and natural gas producing state also becoming the nation’s leading developer of clean energy alternatives.

April 22, 2019

New Mexico’s Sweeping Renewables Bill Unlikely to Impact Oil, Gas Ops

New Mexico Gov. Michelle Lujan Grisham signed into law Friday a bill establishing a 100% carbon-free goal for the energy mix in 2045, which aims to transition from coal resources to total reliance on renewable energy sources.

March 27, 2019

Permian-Driven New Mexico Oil Output Eclipses Another Record

New Mexico set another record for oil production during 2018 at 250 million bbl, 46% higher year/year, according to the Energy Information Administration (EIA).

March 12, 2019

New Mexico to Reconsider Hilcorp’s San Juan Plans

New Mexico regulators said Tuesday they plan to reevaluate recently granted approvals that would allow Houston-based Hilcorp Energy Co. to increase San Juan Basin oil and gas development.

January 9, 2019
New Mexico’s Green Light for San Juan Drilling Draws Criticism

New Mexico’s Green Light for San Juan Drilling Draws Criticism

A Houston-based exploration and production company (E&P) with new approvals to step up some wells in the San Juan Basin has caused a controversy as New Mexico gets ready for an incoming Democratic governor to replace the incumbent Republican.

December 5, 2018

Brief — New Mexico Lease Sale

The November oil and gas lease sale held by the New Mexico State Land Office established an all-time record for revenue, reaching $43.2 million. The previous monthly record was $30.03 million set in July 2017. Katy TX-based Percheron Energy was the high bidder in sealed bids, obtaining 1,999.31 acres in Lea, Chaves and McKinley counties. All but one tract was sold, with one tract receiving no bids and a second tract withdrawn. Nine bidders combined for the total proceeds, with an average per-acre price of $5,431.88. Thirty-two bidders from eight states participated.

December 3, 2018
Stakes High in New Mexico’s Permian as BLM Prepares Draft Resource Plan

Stakes High in New Mexico’s Permian as BLM Prepares Draft Resource Plan

The future of oil and gas development in New Mexico’s portion of the Permian Basin hangs in the balance as the Bureau of Land Management (BLM) wraps up two weeks of public hearings to discuss a draft blueprint for resource development and environmental mitigation covering millions of acres in the state.

September 24, 2018
New Mexico Nets $5.4M of Oil, Gas Lease Revenue

New Mexico Nets $5.4M of Oil, Gas Lease Revenue

Riding the Permian Basin boom, New Mexico took in another $5.4 million from oil and natural gas lease sales on state lands, bringing its fiscal year (FY) 2018 total to more than $102 million, Land Commissioner Aubrey Dunn reported this week.

May 17, 2018
Permian’s New Mexico Revenues Booming, But Water Supply Concerns Persist

Permian’s New Mexico Revenues Booming, But Water Supply Concerns Persist

Reflecting the continuing surge in Permian Basin drilling, the New Mexico State Land Office (SLO) reported that it is nearing a record in oil and natural gas lease sale revenues, following the completion of a March auction that netted nearly $1.5 million.

April 3, 2018

Oxy’s Permian — Legacy and New — Drive Output in 4Q

Occidental Petroleum Corp.’s (Oxy) senior executives on Wednesday were whistling a familiar tune regarding production growth and efficiency gains, led by the Permian Basin, with fourth quarter output jumping year/year by a record 20,000 boe/d to 159,000 boe/d.

February 15, 2018