More than four months after the original sale took place, the Department of Interior has finally issued more than three dozen oil and natural gas leases on federal lands from a January lease sale. WildEarth Guardians has threatened to sue over the action, despite it being outside of the parameters of the current pause on
Read More...Oil and natural gas production in the Permian Basin could undergo a massive shift from New Mexico to Texas, according to a new report from the Federal Reserve Bank of Dallas, because of the Biden administration’s executive orders on leasing and permitting on federal lands. Analyzing the potential effects of the administration’s policy, economists at
Read More...It’s no secret that New Mexico is in a bind. From the Biden administration’s efforts to ban new permits and leases on federal land, to the New Mexico legislature’s move to place a ban on new hydraulic fracturing permits on state lands during this legislative session, there’s an all-out assault against the state’s energy industry.
Read More...State government officials in New Mexico are urgently seeking clarity on the Biden Administration’s executive order on permitting for oil and natural gas development on federal lands, explaining that the uncertainty could undermine economic and environmental progress including the state’s initiatives to reduce flaring. E&E News reports that the state sent a letter to the
Read More...Amid mounting criticisms of President Biden’s executive order last week indefinitely halting new oil and natural gas leases on federal lands and waters, leaders across party aisles are concerned the executive order will jeopardize critical funding for states. That’s especially true for New Mexico, which accounts for nearly 60 percent of federal onshore oil production.
Read More...On Wednesday, President Biden issued a ban on new oil and natural gas leases on federal lands and waters, the impacts of which will be felt in communities across the country. Some states, such as New Mexico, will feel the effects of the ban sooner than others. On a recent media call hosted by the
Read More...A fracking ban on federal lands like the one advocated by the Biden presidential campaign would severely harm the economies of eight western states, according to a new study by the Wyoming Energy Authority. The report’s author, University of Wyoming Professor Tim Considine, came to a grim conclusion: “Over all this study finds that there
Read More...Tom ShepstoneShepstone Management Company, Inc. … … Readers pass along a lot of stuff every week about natural gas, fractivist antics, emissions, renewables, and other news relating to energy. As usual, emphasis is added. Solicitor General Supports PennEast Lawsuit! PennEast Pipeline, as readers will recall, was the victim of an irrational Third Circuit Court of
Read More...The U.S. Bureau of Land Management has opened a public comment period for a proposed conveyor system on public lands to move sand for hydraulic fracturing (fracking) in the Permian Basin of West Texas and New Mexico, Kallanish Energy reports. The Kermit Overland Conveyor Project is being developed by Texas-based OLC Kermit LLC, a subsidiary of
Read More...Continued revenue boosts from New Mexico’s growing oil and natural gas sector will allow students to earn four-year college degrees for free under a plan announced this week by Gov. Michelle Lujan Grisham. The “New Mexico Opportunity Scholarship” will apply to all 29 of the state’s colleges and universities and help more than 55,000 students
Read More...New Mexico’s growing oil and natural gas industry is set to generate “unprecedented opportunities” from a newly forecasted $174 billion in private infrastructure investments by 2030, the New Mexico Oil & Gas Association announced today. The forecast was included in a study by consulting firm ICF that said the new investment coupled with sound public
Read More...New Mexico is poised to receive $1.11 billion in revenue from activities on its public lands in fiscal year 2019, according to the New Mexico State Land Office. This is a 30 percent increase over the $852 million generated in FY 2018 – and it’s being driven by the oil and natural gas industry. As
Read More...Reducing methane emissions has been a significant focus of both the U.S. oil and natural gas industry and environmentalists in recent years. Yet, the New Mexico Oil and Gas Association’s recently proposed Methane Mitigation Roadmap for the state’s industry to significantly reduce these emissions has been rejected by these same environmental groups. The recommendations within
Read More...Prolific oil and natural gas production – particularly in Eddy and Lea counties that sit atop the Permian Basin – is driving a record-breaking revenue year for New Mexico, according to a recent New Mexico Legislative Finance Committee report. As New Mexico Oil and Gas Association Executive Director Ryan Flynn told EID: “A historic expansion
Read More...New Mexico taxpayers saved more than $1,100 per household last year thanks to oil and natural gas development and other economic activity on state trust lands, according to a new report by New Mexicans for Economic Prosperity (NM4EP). State trust lands generated a record $851.9 million in revenue for the state, contributing to more than
Read More...