New Mexico Energy News

01.31.18

Oil production taxes a third of state funding for Eddy County schools

About $24.9 million of Eddy County's $84.1 million in state funding for K-12 public schools last year was attributed to state tax revenue generated by extraction operations...

 

01.31.18

Hydraulically fractured horizontal wells account for most new oil and natural gas wells

Almost three-quarters of all oil and natural gas wells drilled in the US as of 2016 were hydraulically fractured horizontal wells... fracked horizontal wells accounted for about 10.7 million of the nearly 13 million feet of total drilled footage in 2016, the EIA said.

 

01.30.18

Power Agency Interested in SunZia Transmission Project

A federal entity that markets and transmits electricity across the West is expressing interest in a proposed transmission line that would link Arizona and New Mexico and serve as a path to get renewable energy to large markets in the region.

 

01.26.18

New Mexico State Income Rises on Energy Rebound

Thanks to a rebound in New Mexico's oil industry, the state's lawmakers have much more money to work with as they craft a spending plan for the coming fiscal year that aims to boost spending on education, courts and law enforcement.

 

01.25.18

A Biofuels Bankruptcy

The renewable fuel standards (RFS) suffocate a Philadelphia refiner.

 

01.19.18

New Mexico oil and gas lease sale nets $17M

New Mexico Land Commissioner Aubrey Dunn says 5 million barrels of oil are produced every month on state trust lands. He says the record-setting trends mean more money is flowing to public schools and other beneficiaries.

 

01.19.18

The Offshore U.S. Oil And Natural Gas Treasure Trove

U.S. Interior Secretary Ryan Zinke recently announced a leasing plan for 2019-2024 that would put more than 90% of the total Outer Continental Shelf (OCS) acreage and over 98% of "undiscovered, technically recoverable" oil/gas resources in federal offshore areas in play for future exploration and development.

 

01.16.18

U.S. Feb shale output expected to rise to 6.55 mln bpd: EIA

The global oil market has been closely watching U.S. output, which may continue to contribute to global oversupply even as OPEC members, Russia and other producers curb production.

 

01.16.18

U.S. expected to become net exporter of natural gas for first time in decades

[T]hanks to increased natural gas exports to Mexico, LNG exports to at least 20 countries and less gas flowing into the country from Canada, according to the U.S. Department of Energy.

 

01.15.18

In oil drilling, science replaces art

Everything is becoming more efficient. Fewer rigs are required because modern drilling rigs can drill more wells faster and longer. The increasing automation and use of robotics mean fewer people in the oil fields.