New Mexico

Oil and gas funds New Mexico

Published

2 years ago

December 17, 2023

Dale Janway
| Mayor, City of Carlsbad

As New Mexico’s legislators prepare for the 2024 session, any number of data points continue to show just how significant an impact the oil and gas industry has in the state.

New Mexico is headed for a $3.5 billion general fund surplus for the year running through June 2025. Oil and gas production in Southeast New Mexico has allowed the annual state government income to grow by nearly 50 percent over the past three years. The oil and gas industry provides about a third of the state revenue in New Mexico.

The oil and gas industry is paying the bills at a federal level as well. Recent data from the Department of Interior shows that New Mexico earned $2.93 billion in federal revenue from energy production, thanks to all of the production on BLM Land. The next highest state is Wyoming at $832 million.

One way to measure success is through production. Prior to the 2020 pandemic, crude oil production in the Permian Basin was 4.9 million barrels of oil per day. Production is now closing in on 6 million barrels of oil per day.

The industry is also here to stay. Thanks to horizontal drilling and fracking, all production models predict many decades of oil remaining. New Mexico’s current rig count is at 102, putting it at second only to Texas.

As indicated in a recent article, Eddy and Lea County are driving the state’s economy. A recent Arrowhead study concludes that Eddy Country contributes $239,000 per person, with a $32,000 expenditure per person. In October, Eddy County collected $6.7 million from oil and gas activities, from business that was conducted in July.

There have also been a lot of transactions in the industry lately. The value of U.S. oil and gas mergers and acquisitions in the Permian basin this year has reached a record of more than $100 billion, according to one recent study. Another recent article points out that Exxon and Chevron have both been expanding heavily in our area. Both companies, it should be mentioned, are also implementing extremely aggressive environmental policies.

New Mexico is a state with many needs – education, infrastructure and health care, just to name a few. The numbers above, and many other similar points of data, offer a clear-cut solution for the numerous challenges facing our state. Southeast New Mexico rests on top of one of the world’s greatest resources. We hope our legislators remember this fact when they convene next month.

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New Mexico

Human plague case reported in Bernalillo County, second in state this year

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1 week ago

September 24, 2025

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New Mexico

Playoff-Race closing: New Mexico United takes on Colorado Springs Switchbacks – New Mexico United

Published

1 week ago

September 23, 2025

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Playoff-Race closing: New Mexico United takes on Colorado Springs Switchbacks – New Mexico United

New Mexico United travels to Colorado Springs this Wednesday for a Western Conference showdown in the USL Championship playoff race.

The Black & Yellow currently sit fifth in the USL Championship, fighting for the postseason and will look to keep building momentum as the regular season winds down. With a few matches remaining, every point matters, and United will aim to deliver a strong midweek performance on the road.

Wednesday’s contest will be the third meeting between United and the Switchbacks FC this year. In their previous two encounters, United secured a home victory in June during the Jagermeister cup, and drew in the first encounter in June. This clash gives United a chance to claim the season series and strengthen their hold on a playoff spot.

Standout Performers: Archimède and Keller

Forward Luther Archimède continues to be a spark for United’s attack, bringing energy, pace, and aerial ability. His late equalizing goal against Monterey Bay highlighted his gift for delivering in clutch moments. The sixth man has contributed two goals in six games off the bench, proving his talent.

Defender Kipp Keller has been a rock at the back for United since arriving, with his calm composure, strength, and sharp defensive instincts. His leadership on the backline and ability to read the game have been crucial in keeping opponents on their toes. His presence will be needed to keep Colorado’s attackers in check.

Milestones in Sight: Tambakis

Goalkeeper Alex Tambakis is on the verge of making USL Championship history, needing just one more clean sheet to become the league’s all-time leader. After recording his 58th career shutout recently—tying the current record held by Evan Newton—Tambakis will have the opportunity to stand alone at the top when United takes the field Wednesday night in Colorado.

About Colorado Springs

The Switchbacks have fought their way into playoff contention with their mix of grit and attacking ability. On the Attacking side Marco Micaletto has been getting it done, leading the team in goals with six. On the back line, Matthew Mahoney provides a physical and clinical presence, leading the Switchbacks in almost every defensive category this season.

Looking Ahead

Following Wednesday’s trip to Colorado, New Mexico United return home hosting Lexington SC on Sunday at 4 PM MT. With the postseason right around the corner, the Black & Yellow remain focused on collecting crucial points and carrying the momentum into October.

Get tickets HERE

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New Mexico

Nature: Forest regrowth in New Mexico

Published

2 weeks ago

September 14, 2025

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Nature: Forest regrowth in New Mexico – CBS News

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We leave you this Sunday with signs of new life within burned-out areas of Lincoln National Forest near Ruidoso, New Mexico. Videographer: Scot Miller.