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Oil & Gas activities in New Mexico are regulated by the Oil Conservation Division. They gather the following:
> Oil & Gas Well Production Data
> Permit New Wells
> Enforce The Division’s Rules & the State’s Oil and Gas Statutes.
> Make Certain Abandoned Wells Are Properly Plugged.
> Ensure The Land Is Responsibly Restored.
You can check out there website here. It has been designed to provide you with information about doing business with the Oil Conservation Division of New Mexico, as well as access to forms and services provided by the division. Santa Fe office hours are from 8:00 a.m. to 5:00 p.m. Monday through Friday. Located at 1220 S. St. Francis Drive, Santa Fe, NM 87505.
Date: September 3rd, 2019
Oil and Gas industry of New Mexico is expected to keep growing at a record pace according to a study commissioned by industry trade groups. The effects of which will include:
1. More revenue for the state
2. Billions of dollars in new infrastructure investments to get the commodities to the market
During a meeting Tuesday in Roswell, the predictions were outlined in a report. Commissioned by the New Mexico Oil and Gas Association and the American Petroleum Institute, a national consulting group compiled the report.
Analysts estimate it will take $174 billion of new infrastructure to keep pace with expected growth through 2030. That would include investments by the industry in new pipelines, access roads, well pad construction, processing plants and refineries.
New Mexico is set to continue its breakneck pace for revenue growth from its oil and gas industry, and is expected to add $174 billion in infrastructure to support it, according to a new report submitted to lawmakers on Tuesday, cited by US News. Read the full article here.
The U.S. has oscillated from being the largest economy to participate in the 2015 Paris Agreement on climate change to becoming one of the world’s strongest voices promoting the continued burning of coal and other fossil fuels.
New Mexico has had a front row seat to that change, of course. In 2019, the Permian Basin became the world’s most productive oilfield, and New Mexico has emerged as a top oil-producing state. Read the full article at nmpoliticalreport.com