New Mexico

New Mexico’s fiscal health is undergoing an “unprecedented sea change” with global markets signaling the “beginning of the end” for the state’s financial reliance on fossil fuels, the Institute for Energy Economics and Financial Analysis (IEEFA) reported Tuesday. IEFFA’s Tom Sanzillo, director of finance, co-authored the report with energy policy analyst Suzanne Mattei.  “Leases, royalty…

U.S. oil and gas permitting on federal lands jumped 8% in September from August, with Texas operators posting the largest increase since March, according to a monthly tally by Evercore ISI. The firm every month compiles permit data from federal and state sources, which provides a bird’s eye view of where drilling by exploration and…

Houston-based Black Bear Transmission LLC said Thursday it has completed the sale of natural gas gathering assets in Oklahoma and Arkansas acquired earlier this year from Enbridge Inc.   The assets, owned by Ozark Gas Gathering LLC (OGG), were sold to an undisclosed buyer and terms were not released. OGG was acquired from Enbridge as part…

The New Mexico Environment Department (NMED) said Tuesday it has fined an affiliate of DCP Midstream Partners LP $5.3 million for air quality violations. The watchdog said that between December 2017 and June 2019, DCP Operating Co. LP submitted 367 excess emission reports for eight New Mexico facilities, totaling over 2.1 million pounds of pollutants.…

In a proactive approach to work with New Mexico regulators to reduce the amount of natural gas flared when wells are drilled, a statewide industry coalition is recommending regulators update the rules and work hand-in-hand with operators to improve gas capture in the oilfields.

New Mexico’s oil and natural gas industry could attract as much as $174 billion in infrastructure investments through 2030 as its share of the Permian Basin continues to expand, according to an industry-backed study.

A group of organizations is challenging as unconstitutional provisions in New Mexico’s recently enacted renewable energy law and has asked the state’s high court to intervene.

New Mexico’s revenue collections through the first 10 months of fiscal year (FY) 2019 are $273.5 million above forecast, according to the Legislative Finance Committee, which attributed the windfall to booming oil and gas production and strong tax receipts.

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.