Tag Archives: New Mexico

The Permian Basin in Texas and New Mexico will soon become the third-biggest oil producing region in the world: IHS Markit

Output from the Permian basin is poised to double between 2017 and 2023, according to IHS Markit. At 5.4 million barrels per day, Permian production would surpass output from all other producer nation’s except Saudi Arabia and Russia. IHS Markit believes the jump in output will require more than $300 billion in investment. New IHS […]

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Permian Seen Second to Saudis for Spare Oil-Output Capacity

The U.S.’s Permian Basin is looking like Saudi Arabia, with as much as 1 million barrels of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world’s largest crude exporter. Oil producers in the Permian Basin have at least a combined 500,000 barrels […]

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New Mexico Moves Up in Oil & Gas Rankings

        ALBUQUERQUE — Thanks to more barrels of oil being pumped monthly from the Permian Basin, New Mexico is among the nation’s top producing states. Industry officials in New Mexico on Wednesday celebrated the latest figures released by the U.S. Energy Information Agency, saying investment by energy companies in the state worth […]

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