Pandemic rocks Permian Basin as wells, rigs idled and workers laid off

  • It wasn't long ago that some of the largest oil companies in the world were flocking to Lea and Eddy counties to boost oil production, open regional offices and add high-paying jobs that attracted workers from across the country to cities like Carlsbad and Hobbs.
  • The good ol' days are goneBefore the pandemic began, there were 42,700 oil and gas jobs in New Mexico and as many as 134,000 when also counting jobs indirectly related to the industry, according to a recent study done by New Mexico Tech's research institute for the New Mexico Oil and Gas Association.
  • The University of New Mexico's Bureau of Business and Economic Research has smaller figures, however, using U.S. Department of Labor data to calculate 27,780 oil and gas jobs in the state and 48,615 direct and indirect jobs as of the end of 2019.

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