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All tapped out

Started by nmindependent · 9 months ago

ALBUQUERQUE — There’s been a lot of talk recently about increasing U.S. domestic oil production, and one might think New Mexico — the sixth-highest oil-producing state in the nation — would be a candidate for helping fill the order. But for reasons rangi ... Continue reading »

4 comments

  • jimscarantino

    11 months ago

    Superb article, in all respects.
    reply
  • jbaca16

    11 months ago

    There are 1.2 million acres of leased but undrilled BLM lands in New Mexico. That is a hell of a lot. The contention that more is needed to be leased and that new inventory will cause more construction of drilling rigs is preposterous. The inventories of land that are leased but undrilled across the west is about 65 million acres. New Mexico is better than other states but it still has 25% of its inventory undrilled. Think speculation and price manipulation here.
    reply
  • freshfromflorida

    11 months ago

    I drink your milkshake!
    reply
  • dlhicks

    11 months ago

    re:jbaca

    not entirely sure what you are getting at.. but keep in mind that just because an oil company leases land, does not mean it will drill there. Certainly it means they are very interested, and intend to drill there.. but frequently other factors come into play that can change this, for better or worse.
    Oil prices, the success/failure of other projects within the company, changing policies at the state or federal level, landowners, the success/failure of surrounding wells, and sometimes just plain old geology.
    Not everything has to be a conspiracy :)
    reply
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