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Author Archives: Ross Torgerson

EIA report pegs Permian as only oil-producing shale

The latest U.S. Energy Information Administration’s (EIA) monthly drilling report has revealed some very encouraging news for the Permian Basin, but as for other major shale plays—not so much. Among the Bakken, Eagle Ford, Haynesville, Marcellus and Niobrara shale plays, the Permian stood alone as the only shale to sustain continued oil production. According to the EIA’s March report, the ...

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New Mexico is No. 1 in export-related job growth

It’s not often New Mexico can brag of being top dog on a nationwide business list, but the state is being recognized as the fastest-growing place in the country for jobs related to international exports. A U.S. Commerce Department report to be released today says local jobs supported directly and indirectly by state exports to other countries grew 107 percent ...

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PNM’s San Juan plan gets thumbs down

A hearing examiner reviewing the Public Service Co. of New Mexico’s plan to shut down half of the coal-fired San Juan Generating Station near Farmington has recommended that regulators reject most of PNM’s proposals for the plant. Ashley Schannauer, assigned by the state Public Regulation Commission to review PNM’s plans and recommend a decision to the five-member commission, said Wednesday ...

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Exxon rejects Beaumont refinery union proposal; offers six-year pact

HOUSTON – Exxon Mobil Corp <XOM.N> has rejected a contract offer from the United Steelworkers (USW) local chapter representing hourly workers at the company’s Beaumont, Texas, refinery and renewed its offer of a six-year contract, a union official said on Wednesday. Exxon has been campaigning for a longer agreement with the Beaumont workforce, offering first a five-year agreement and then ...

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Apache selling Australian subsidiary for $2.1 billion

HOUSTON — Apache Corp. says it is selling its Australian oil exploration and production subsidiary for $2.1 billion in cash. The Houston-based company said Wednesday that a consortium of private equity funds managed by Macquarie Capital Group Ltd. and Brookfield Asset Management Inc. agreed to buy Apache Energy Ltd. The assets of Apache Energy Ltd. and its subsidiaries averaged production ...

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