Link

Breathing easier in NM's oil patch


  • “Before, we weren't even making enough money for that … Some of the large companies are ramping up spending, but for smaller guys like me, it's still a struggle, because we need higher prices in the mid-$60 (per barrel) range for new work-overs to expand production.”
  • That, in turn, pushed the state budget into crisis, forcing lawmakers to cut spending by hundreds of millions of dollars in the last three years as revenue from taxes on oil production and related activities plunged.
  • And in the meantime, even if prices remain stable at current levels, New Mexico's small, independent producers are unlikely to initiate new production.



New service from OilVoice
Trip Shepherd is for companies who need to track their staff in areas of risk.
It's free to use, so we invite you to try it.

Visit original link

https://abqjournal.com/1054207

Dr. Daniel FineNew MexicoPermianPermian BasinDelaware BasinWest Texas Delaware Basin USATexas Oil and GasOiloil & moneyDrilling ActivityRig CountTechnologyExxonMobilGeologicalsenateinvestmentGeopoliticsUnited StatesSaudi ArabiaOPECBusinessBusiness newsoil productionoil projects

More items from wfine94268


Increasing Natural Gas Trade Between the U.S and Mexico

U.S. companies began exporting natural gas to Mexico via pipeline in 1988, and exports have increased significantly as the shale revolution in the U.S. produced affordable, abundant natural gas for consumers in the U.S., Mexico, and around the world.REF Liquefied natural gas (LNG)—which is transpo ...

Will Fine


Posted 3 months agoLink > MexicoNew MexicoGovernor of New Mexico +44

Analysis: Oil market glut will lead to declining prices through 2020 by Dr. Daniel Fine

With the OPEC-Russia meeting ahead, the price of oil is at a crossroad.  President Trump wants lower prices for gasoline at the pump and the Democratic Party wants a shortage to lift prices higher. This is the 2020 presidential election, to re-elect Trump or a create a Democratic left-center White ...

Will Fine


Posted 4 months agoOpinion > Pioneer Natural ResourcesOccidental PetroleumAnadarko Corporation +97

Energy Industry Looks To The Future At 2019 San Juan Basin Energy Conference

A recent influx of dynamic, new oil and gas operators are bringing innovative applications of modern technology to restore the San Juan Basin to its place as a leading basin in the United States   FARMINGTON, N.M. , March 15, 2019 /PRNewswire/ -- The San Juan Basin Energy Conference will ...

Will Fine


    25 Apr 2019


Posted 7 months agoEvent

Analysis: Electric cars and the Permian: Saudi Arabia in Lea County by Dr. Daniel Fine

Some 30,000 children marched in Belgium weeks ago against Climate Change. It is only a matter of two years before a few members of Congress, alone with only cameras today, will march at the head of crowds of 500,000 down Pennsylvania Avenue. It will have its colors; green  — and yellow for the Frenc ...

Will Fine


Posted 7 months agoOpinion > weekly oil newsWorld NewsElectric cars +20

Analysis: Things are flat in the Permian, and there's a push for renewables in Santa Fe by Dr. Daniel Fine

The Permian-Delaware Basin rig count should start falling as oil operators, large and small, are flat for 2019. Spending has been sharply reduced as supply now dominates the A.I. (Artificial Intelligence) used by many commodity traders in oil.    The large or integrated oil companies have all the ...

Will Fine


Posted 8 months agoOpinion > Santa Felatest oil and gas newsNew Mexico +69
All posts from wfine94268