New Mexico Energy News

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.

 

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.