ABQJournal (March 21, 2021) — New Mexico’s oil and gas industry survived the worst disruption in its history during the coronavirus, but operators now face an uncertain regulatory environment that’s clouding post-pandemic recovery.
With oil prices rebounding beyond pre-pandemic levels as vaccination campaigns gain force in the U.S. and elsewhere, market conditions are ripe for a return to robust activity in the Permian Basin in southeastern New Mexico. But while oil rig activity is up significantly after reaching bottom last September, new drilling and investment remains markedly sluggish.
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