NM Oil Industry Continues Rise

SOME POSITIVE NEWS FOR NEW MEXICO’S OIL INDUSTRY AS OIL PRODUCTION KEEPS GUSHING IN SOUTHEASTERN NEW MEXICO. RYAN FLYNN, PRESIDENT OF THE STATE OIL AND GAS ASSOCIATION, TELLS THE ALBUQUERQUE JOURNAL THEY EXPECT MORE THAN 300 MILLION BARRELS OF OIL THIS YEAR … MAKING FOR THREE YEARS IN A ROW OF RECORD PRODUCTION. FLYNN SAYS THAT’S UNPRECEDENTED.

DURING THE FIRST EIGHT MONTHS OF THIS YEAR, THE STATE OIL CONSERVATION DIVISION SAID OIL PRODUCTION WAS UP 36 PERCENT COMPARED TO THIS TIME LAST YEAR … MAKING IT A RECORD YEAR ON ITS OWN. FLYNN TELLS THE JOURNAL THEY’RE PRODUCING UP TO 900-THOUSAND BARRELS A DAY AND HAVE 108 DRILLING RIGS. IT MEANS NEW MEXICO COULD MOVE PAST 300 MILLION BARRELS BY THE END OF THIS YEAR.

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