New Mexico Energy News

02.16.18

Interior Announces Date for Largest Oil and Gas Lease Sale in U.S. History

Deputy Secretary of the Interior David Bernhardt announced that the Department will offer 77.3 million acres offshore Texas, Louisiana, Mississippi, Alabama, and Florida for oil and gas exploration and development.

 

02.16.18

EIA: US gas reserves increase at yearend 2016, crude remains flat

The US Energy Information Administration said average first-of-the-month prices used to calculate US reserves dropped in 2016 compared with 2015. Natural gas and crude oil decreased by a respective 6% and 15% during the period.

 

02.08.18

Budget deal envisions largest oil stockpile sale in history

In an effort to partially pay for new spending, the budget agreement would sell 100 million barrels of the Strategic Petroleum Reserve (SPR) in the next decade.

 

02.06.18

Oil World Turns Upside Down as U.S. Sells Oil in Middle East

[I]n a trade that illustrates how the rise of the American shale industry is upending energy markets across the globe, the U.A.E. bought oil directly from the U.S. in December...

 

02.05.18

Opinion: Point - Offshore energy is critical to future energy security

Offshore development plays a critical role in U.S. energy security, supplying more than 1 million barrels of oil per day for the last 20 years.

 

02.04.18

Permian Seen Second to Saudis for Spare Oil-Output Capacity

The U.S.'s Permian Basin is looking like Saudi Arabia, with as much as 1 million barrels of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world's largest crude exporter.

 

02.03.18

China Surpasses U.S. as Largest Crude Oil Importer

China surpassed the U.S. in annual gross crude oil imports in 2017 by importing 8.4 million barrels per day (b/d) compared with 7.9 million b/d of U.S. crude oil imports.

 

02.02.18

Interior rolls back oil drilling policies for federal land

The Bureau of Land Management on Thursday introduced a policy designed to "simplify and streamline the leasing process" for oil and natural gas development on federal land by easing "unnecessary impediments and burdens."

 

02.01.18

Report finds the oil and gas industry has multibillion-dollar impact on budget and schools

New Mexico's general fund and schools are recipients of $1.743 billion from FY 2017, thanks to a boom with instate success in the oil and natural gas industries.

 

01.31.18

BLM oil and gas lease sales generate $360 million in 2017

Fifty percent of the revenue from lease sales goes to the state where the oil and gas activity is occurring, while the rest goes to the U.S. Treasury. If the leases result in producing oil or gas wells, revenue from royalties based on production are also shared with the state.