THERE MAY BE A SLOWDOWN IN OIL DRILLING IN NEW MEXICO…BECAUSE OF THE PARTIAL GOVERNMENT SHUTDOWN. WALLY DRANGMEISTER WITH THE NEW MEXICO OIL AND GAS ASSOCIATION SAYS THE BUREAU OF LAND MANAGEMENT IS PUTTING A STOP TO DRILLING PERMIT APPLICATIONS, FOR NOW.
DRANGMEISTER SAYS A SHUTDOWN OF A FEW DAYS WOULDN'T HAVE A DRAMATIC IMPACT. BUT A PROLONGED GOVERNMENT SHUTDOWN WOULD SLOW THE PIPELINE OF DRILLING PERMITS NEEDED TO DRILL NEW WELLS IN SOUTHEAST NEW MEXICO.
AND THAT COULD IMPACT THE STATE TREASURY…SINCE CLOSE TO 20 PERCENT OF GENERAL FUND REVENUES ARE PROVIDED BY TAXES ON THE OIL AND GAS INDUSTRY.
