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Tag Archives: Permian Basin

Oil-dependent New Mexico joins climate-change coalition

SANTA FE, N.M. (AP) — New Mexico Attorney General Hector Balderas has joined a coalition of 17 state attorneys general to combat global warming by examining whether fossil fuel companies misled investors or the public on the impact of their business. State Deputy Attorney General Tania Maestas met Tuesday in New York with other prosecutors in the coalition. New Mexico depends heavily ...

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New Mexico reviews water injection wells for damages

Injection well used to dispose of oil field wastewater. (Image: Faces of Fracking via Flickr)

SANTA FE, N.M. (AP) — New Mexico’s state land commissioner is ordering a broad examination of easements for injection wells used by the oil and natural gas industry to dispose of waste saltwater, in response to environmental damage at a site in the southeast of the state. State regulators blame Midland, Texas-based Siana Operating for spills of oily water at ...

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New Mexico says oil company trespassed, left spill

SANTA FE, N.M. (AP) — New Mexico regulators are ordering a Midland, Texas-based company to clean a spill of oil and water on state trust lands in Lea County at a waste-water injection site serving the area’s oil and natural gas industry. The State Land Office on Wednesday accused Texas-based Siana Operating LLC of trespassing under an expired lease of ...

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Feds invest nearly $7M in small business to boost clean tech

A team of SFU student researchers is at work at Ballard Power Systems in Burnaby carrying out tests to improve fuel cell durability. The study aims to make fuel-cell buses competitive with diesel hybrids. (Image: Simon Fraser University via Flickr)

ALBUQUERQUE, N.M. (AP) — The federal government is investing nearly $7 million in 33 small businesses across the country to build partnerships with national laboratories in hopes of speeding up development of clean energy technology, the U.S. Department of Energy announced Thursday. The selected businesses represent only a fraction of the hundreds that applied to participate in the first round ...

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Chevron shifts focus to Texas shale

Chevron shifts focus to Texas shale

Chevron plans to focus on shorter-cycle investments in West Texas shale plays after its larger, long-term investments come into production this year. By the end of the decade, Chevron believes it can nearly triple its oil production in the Permian Basin by increasing its rig count from seven to 14. “Don’t be surprised if by the middle of the next ...

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Oklahoma company withdraws New Mexico drilling request

An oil and gas drilling rig operating in the San Juan Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

RIO RANCHO, N.M. (AP) — An Oklahoma-based oil company has pulled its application to drill an exploratory well just west of one of New Mexico’s fastest growing cities. SandRidge Exploration and Production LLC sent a letter to the Sandoval County Planning and Zoning Department on Tuesday saying it was withdrawing its request. The company did not offer an explanation but ...

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New Mexico moves to cut spending to offset oil bust

An oil and gas drilling rig operating in the Permian Basin near Farmington, New Mexico. (Image courtesy of Encana Corp)

SANTA FE, N.M. (AP) — The state of New Mexico slashed revenue projections for this year and next by a quarter-billion dollars because of low oil and natural gas prices and took initial steps Saturday toward reducing general fund spending next year. A somber Senate Finance Committee unveiled budget amendments that would shave spending across state agencies this fiscal year, ...

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$30 oil? Texas says bring it on

$30 oil? Texas says bring it on

Some parts of the Eagle Ford and Permian Basin are profitable with oil below $30 a barrel, according to analysis by Bloomberg Intelligence. Wells in DeWitt County can be profitable with benchmark crude at a price as low as $22.52, which is $4 below its lowest price this year. Crude oil settled at $26.55 on Jan. 20, its weakest price ...

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