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Mack Chase Remembered As A True Independent

IPANM (October 5, 2023) - The Independent Petroleum Association of New Mexico (IPANM) offers our sincere condolences on the loss

IPANM Joins MSLF To Comment On Fed Leasing Rule

IPANM & Mountains State Legal Foundation (Sept. 22, 2023) – The Independent Petroleum Association of New Mexico (IPANM) joins the

In Memoriam: H. Lee Harvard

The Independent Petroleum Association of New Mexico (IPANM) joins a host of Oil & Gas industry trade associations and Roswell

Permian Basin Oil & Gas Contributes $181.8 Billion in GDP

World Oil (August 31, 2023) — The Permian basin's economic impact continues to gain momentum, bringing promising news for Texas,

WARNING: Plunging Oil Supplies Mean Prices Will Go Up

EnergyMedia Now (August 25, 2023) - Global oil inventories, already near a six-year seasonal low, slumped sharply over the past

IEA: World Oil Demand Scaling To Record Highs

Oil & Gas Journal (August 15, 2023) - World oil demand is increasing to record highs, boosted by robust summer

LFC: Oil & Gas Will Supply HALF (50%) of New Mexico's General Fund Revenues By 2024

Carlsbad Current Argus (July 10, 2023) - Oil and gas revenue was making up an increasing portion of New Mexico’s

IPANM: We Have Concerns Over Buffer Distances

New Mexico Sun (July 5, 2023) -- State Land Commissioner Stephanie Garcia Richard recently signed a moratorium prohibiting oil and

Pro-Oil & Gas, Highly-Respected New Mexico State Senator Steps Down

Roswell Daily Record (June 29, 2023) - Following more than two decades of representing parts of Chaves, Lea and Eddy counties,

Many Concerns Over Chaco's 10-Mile Buffer Order

Farmington Daily Times (June 12, 2023) FARMINGTON — A June 2 decision by Secretary of the Interior Deb Haaland to

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IPANM (October 5, 2023) – The Independent Petroleum Association of New Mexico (IPANM) offers our sincere condolences on the loss of Mack Chase, founder of Mack Energy Corporation and longtime member of IPANM. Mack Energy Corporation was founded by Mack C. Chase, President, in 1990, but his roots and many associated oilfield efforts date well back into the 1950s. Mack Chase’s family continues to be active in many different associated oil operations throughout southeast New Mexico, with its headquarters based in Artesia, NM. Mack Energy Corporation continues to be one of IPANM’s most loyal member companies.

The Artesia Daily Press details the well-lived life of Mack Chase in this beautifully written obituary which offers a glimpse into his life, his family, and his dedicated work in the Artesia community. It reads, “Mack’s impact and generosity in Artesia will be felt for years from his support of many programs and projects including; Artesia Public Schools, Bulldog Bowl, Artesia Mainstreet, Derrick Floor, Mack Chase Athletic Complex, Soccer Fields, Aquatics Center, Artesia Public Library, Little League Fields and many more. Mack made Artesia a better place to live with his generosity in giving and making an impact on people’s lives.”

Mack Chase will be missed by many who enjoyed sharing his friendship through IPANM and he’s left an impressive family legacy that continues to be involved in IPANM to this day.

Services for Mack will be held at Bulldog Bowl in Artesia on Friday, October 6th at 2:30 p.m. Memorial donations can be made to the Chase Foundation in honor of Mack C. Chase.

Artesia Daily Press: Mack Chase: A Man of Few Words But Infinite Action

IPANM & Mountains State Legal Foundation (Sept. 22, 2023) – The Independent Petroleum Association of New Mexico (IPANM) joins the Mountain States Legal Foundation (MSLF) in opposing a new proposed federal rule that sets out to do exactly the opposite of what the BLM’s Federal Leasing Program intended: Allow access to Oil & Gas extraction on federal lands.

The two associations submitted comments submitted today that read, “The Proposed Rule is an attempt to achieve through bureaucratic obfuscation what the BLM and Department of the Interior cannot do directly: prohibit new and even already-authorized oil and gas development on federal lands.”

Citing proposed language that attempts to unravel existing leasing regulations, the comments continue, “Among other things, the Proposed Rule improperly expands the scope of agency discretion and delegates that discretion to other entities in ways that contradict the letter and spirit of the statutes from which the BLM and the Interior derive any their alleged authority.”

Both IPANM and MSLF have worked closely on issues that are impacting producers in New Mexico, specifically with overly restrictive state and federal regulations that are obstructing the work of independent producers.

Today’s letter concludes, “Ultimately, the Proposed Rule is an attempt to achieve through bureaucratic obfuscation what the BLM and the Interior cannot do directly: prohibit oil and gas development on federal lands. The Proposed Rule both improperly expands the scope of agency discretion and delegates that discretion to new entities in ways that contradict the letter and spirit of the congressionally enacted statutes from which that authority derives. It also invites unreasonable and unreasonably explained administrative decision-making.”

IPANM thanks the MSLF for the collaborative effort with a bulk of the substantive comments authored by the legal team at Mountain States Legal Foundation.

A full copy of the comment letter can be below.

MSLF / IPANM Comment Letter on Proposed Federal Leasing Rule – September 22, 2023

The Independent Petroleum Association of New Mexico (IPANM) joins a host of Oil & Gas industry trade associations and Roswell community groups in mourning the loss of Lee Harvard, founder of Harvard Petroleum and a founding member of IPANM.

Lee formed Harvard Exploration Company in 1970 after working many years in the oil & gas industry. The company continues today as Harvard Petroleum Company, LLC, under the management of his son, and former IPANM Past-President Jeff Harvard. Harvard Petroleum continues to be one of IPANM’s most loyal member companies.

Yesterday’s Roswell Daily Record details the well-lived life of Lee Harvard in this beautifully written obituary which offers a glimpse into his life, his family, and his dedicated work in the Roswell community. It reads, “(Lee Harvard) was a strong supporter of the Roswell Desk and Derrick Club and the NM Landman’s Association. He was also active in the Independent Petroleum Association of America and a founding member of the Independent Petroleum Association of New Mexico. Lee enjoyed the friendships that serving on the board of Valley Bank of Commerce afforded him over the years. He also served as President of the Alto Alps Homeowners’ Association…”

IPANM would like to offer our condolences to the Jeff Harvard and the entire Harvard family on Lee’s passing. He will be missed by many who enjoyed sharing his friendship through IPANM over four decades.
A memorial service will be held at First United Methodist Church of Roswell on Friday, September 15, 2023, at 2pm. In lieu of flowers, please remember Lee’s remarkable life with a donation to Harvest Ministries, Roswell Community Kitchen, Independent Petroleum Association of New Mexico, the Roswell Geological Society or charity of one’s choice.

World Oil (August 31, 2023) — The Permian basin’s economic impact continues to gain momentum, bringing promising news for Texas, New Mexico and the entire nation. According to the latest report by the Permian Strategic Partnership (PSP), the Permian basin had a record year for tax revenue collected from the oil and gas industry. These funds support tax relief, road improvements, public schools and teachers, police and fire departments, community hospitals, universities, and other essential services. The Perryman Group projected the Permian basin to generate $325 billion in gross product and provide more than 1,200,000 jobs for the nation’s economy by 2050.

According to the Economic Impact report, the Permian is also responsible for $24.5 billion in taxes collected across Texas and New Mexico. The area also doubled the amount of oil and gas severance and production taxes across both states compared to the previous year

The Permian basin also contributed $2.1 billion to Texas’ Permanent University Fund, and $2.1 billion to Texas’ Permanent School Fund, more than double the previous year.

The region also accounts for 35% of New Mexico’s state budget ($5.8 billion) and more than 1/3 of the total funding for New Mexico’s schools, as well as roughly 3% of U.S. wind capacity and approximately 8% of U.S. total solar plant capacity. Investments in both wind and solar are growing rapidly in the Permian basin

The Permian basin is a global energy-producing region with abundant natural and renewable resources. With 105 MMbbl of recoverable oil and 229 Tcf of recoverable natural gas, the Permian basin helps fuel economies worldwide.

By 2025, the Permian basin will be responsible for generating 50% of U.S. oil production. Despite being home to only 1.6% of Texas’s population, the Permian basin accounts for 8.2% of the state’s private sector GDP. The same goes for New Mexico; only 9.3% of the state’s population lives in Lea, Eddy and Chaves counties, but the Permian basin accounts for 26.5% of the state’s GDP.

EnergyMedia Now (August 25, 2023) – Global oil inventories, already near a six-year seasonal low, slumped sharply over the past month with OPEC+ production cuts and resurgent demand starting to affect the supply of crude. Worldwide onshore stockpiles were seen at about 3.37 billion barrels as of Wednesday, a slump of about about 60 million barrels from a month earlier, according to energy analytics firm Kepler. They have recovered somewhat since Aug. 15.

Much of the reduction was seen in China, where data from industry consultant OilChem show operating rates at state-owned processors are set to hit a record this month, suggesting healthy demand for crude.

US nationwide inventories have also been steadily falling for months and are now at the lowest since end of 2022 and that of Cushing — the nation’s biggest storage hub — declined the most since 2021. All the while, Saudi Arabia has been extending its commitment to cut its output, while Russia also curbed its exports.

“This is a result of the strong demand we are currently seeing,” said Jorge Leon, senior vice president of oil market research at Rystad Energy. “The voluntary cuts of OPEC+, together with the additional 1 million barrels a day cut by Saudi Arabia, initially for July and now extended into September, have finally turned the market into a significant deficit.”

Oil prices have rallied 15% since late June with the International Energy Agency saying global oil demand will soar higher this month after hitting a record — despite the economic gloom, including in top buyer China.

Plunging Oil Stockpiles Show ‘Significant’ Market Deficit

Oil & Gas Journal (August 15, 2023) – World oil demand is increasing to record highs, boosted by robust summer air travel, increased utilization of oil in power generation, and surging Chinese petrochemical activity, the International Energy Agency (IEA) said its August Oil Market Report.

Global oil demand reached an all-time high of 103 million b/d in June, and there is potential for another peak in August. Following a period of subdued performance, demand from OECD countries was adjusted upwards for both May and June with overall consumption returning to growth in second-quarter 2023 after two quarters of contraction. Chinese demand was also stronger than expected, reaching new highs despite persistent concerns over the state of its economy.

According to IEA’s latest forecast, global oil demand is set to expand by 2.2 million b/d to 102.2 million b/d in 2023, with China accounting for more than 70% of growth. With the post-pandemic rebound slowing, and as lackluster economic conditions, tighter efficiency standards, and new electric vehicles weigh on use, growth is forecast to slow to 1 million b/d in 2024.

IEA: World Oil Demand Scaling To Record Highs

Carlsbad Current Argus (July 10, 2023) – Oil and gas revenue was making up an increasing portion of New Mexico’s budget, as production in the Permian Basin boomed, even as state officials sought to diversify its economy away from its reliance on fossil fuels.

In its most recent revenue estimates published in May, the Legislative Finance Committee (LFC) found that about half of General Fund revenue was tied to oil and gas, marking an increase from prior estimates that the industry accounted for about a third of the state’s budget.

Jim Winchester, president of fossil fuel trade group the Independent Petroleum Association of New Mexico (IPANM) said the recent reports of increased oil and gas revenue should send a message to lawmakers that the industry must be supported by state policy.

Winchester cited New Mexico as the second-highest oil producer in the U.S. and seventh-highest natural gas producer, arguing that 50 percent of oil growth in the U.S. came from the state.

“IPANM hopes the staggering $7 billion revenue number encourages government leaders, legislators, and communities to do everything possible to protect our safe and responsible oil & gas production,” Winchester said.

“While we agree state economic diversification is critical for stabilizing revenues, let’s acknowledge the enormous benefits that $7 billion dollars brings to the overall well-being of New Mexicans through funding of education, public safety, healthcare, and social programs.”

Carlbad Current Argus Article: About half of New Mexico’s budget is reliant on the oil and gas industry, report says

IPANM (June 1, 2023) – Economic prosperity for the State of New Mexico rides on the back of the Oil & Gas industry, as the Legislative Finance Committee’s 2023 Post-Session Fiscal Review articulates. The report, released Thursday, indicates more than 50% of New Mexico’s General Fund revenues will come from (an estimated $7 Billion for FY2024) will come from New Mexico’s Oil & Gas Industry.

“The LFC report reflects the estimated increased production gains we will continue to see for oil & gas in New Mexico in this next year,” said IPANM Executive Director Jim Winchester.

“IPANM hopes the staggering $7 Billion revenue number encourages government leaders, legislators, and communities to do everything possible to protect our safe and responsible oil & gas production.”

“With our status as the #2 producing oil state and the #7 natural gas producing state in the country, coupled with the recent federal findings that 50% of oil growth in the United States in 2022 came directly from New Mexico production, our state cannot afford to be pushed too quickly into the energy transition.”

“While we agree state economic diversification is critical for stabilizing revenues, let’s acknowledge the enormous benefits that $7 Billion dollars brings to the overall well-being of New Mexicans through funding of education, public safety, healthcare, and social programs.”

See the LFC chart below that is included in the LFC report. The oil & gas revenue coming into the state, including money to the state permanent fund (the blue line) shows more than 50% of New Mexico’s General Fund Revenues (nearly $7 Billion estimated for FY2024) coming from oil and gas. The windfall already allowed the New Mexico State Legislature to pass a record $9 Billion budget this past legislative session, which is now on a pathway to continue to increase.

The report summarizes the upward revenue trend. The report reads on Page 3, “The state’s oil production continues to reach new records, with associated gas production further propelling New Mexico’s energy bonanza. Recovery in the oil and gas industry accounted for over two-thirds of the increase in expected general fund revenues in the December 2022 consensus revenue update.”

The LFC report also indicates that next year the state could also see another multi-billion dollar budget surplus if oil & gas prices remain at current levels.

New Mexico Sun (July 5, 2023) — State Land Commissioner Stephanie Garcia Richard recently signed a moratorium prohibiting oil and gas drilling within 1 mile of schools, other educational facilities and daycare facilities. The moratorium prevents new leases from being issued for drilling operations in areas that could affect schools and children.

“It’s my deep honor and privilege to be able to make this commitment to the students of New Mexico, that their health and their access to clean air and water is a right that we should be protecting with our policies,” Garcia Richard said in announcing the moratorium.

The moratorium comes after the commissioner received letters from community members in the Four Corners and the southeastern part of the state voicing concerns about pollution near their childrens’ schools. Garcia Richard also heard from environmental advocacy groups including the Center for Biological Diversity and Citizens Caring for the Future reporting concern.

Jim Winchester, executive director of Independent Petroleum Association of New Mexico, said there are questions about the scientific validity of some of the arguments in Garcia Richard’s decision.

“IPANM agrees that safe and reasonable setbacks are necessary between certain production sites and schools, however, we have concerns that the distance to be enforced under the State Land Office’s assumed discretionary authority is arbitrary and isn’t based on any definitive evidence of health impacts,” Winchester said in a statement he provided to the New Mexico Sun.

“While it would have been appropriate for the state land commissioner to consult with industry before issuing this order carte blanche, we will work with her office on a case-by-case basis if there are particular tracts of land that might otherwise be safely and responsibly developed to provide critical revenues to improve New Mexico’s schools,” he added.

New Mexico Sun: Concerns Over SLO Buffer

Roswell Daily Record (June 29, 2023) – Following more than two decades of representing parts of Chaves, Lea and Eddy counties, Sen. Gay Kernan (R-Hobbs) announced her intention to resign from the New Mexico Legislature.
“After much prayerful consideration and with the help of my family, I have made the difficult decision to resign my seat as New Mexico State Senator for District 42, effective August 1, 2023,” Kernan said in a statement Wednesday..
Kernan, who is now in her fifth term, cited family obligations as a factor in her decision to step down before the end of her four-year term. All 42 seats in the New Mexico Senate will be on the ballot in November 2024.
“I think the time has come for me to consider my family and just sort of take care of my family and myself at this point,” Kernan said to the Roswell Daily Record Wednesday following her announcement.

Pro-Oil & Gas, Highly-Respected New Mexico State Senator Steps Down

IPANN (June 29, 2023) – In response to the announcement by State Sen. Gay Kernan that she is stepping down after 21-years in the New Mexico State Senate, IPANM Executive Director Jim Winchester offered the following statement:

“IPANM deeply appreciates Sen. Gay Kernan’s tireless efforts as a strong supporter of the oil & gas industry and independent producers throughout her 21-years of public service representing her Southeast New Mexico district in the heart of the Permian Basin. Not only did Sen. Kernan work hard behind the scenes with IPANM on important industry legislation, but she consistently spoke-up for independent producers in a countless committee and floor sessions. Her ability to sift through political noise and focus specifically on the issues at hand rightfully garnered the respect and admiration of many on both sides of the aisle. We congratulate her on decision to deservedly step back from her hard work in Santa Fe, but know she will continue to be a kind, respectful, and loyal advocate for independent producers outside of the political spotlight.”

Farmington Daily Times (June 12, 2023) FARMINGTON — A June 2 decision by Secretary of the Interior Deb Haaland to withdraw public lands within a 10-mile radius of Chaco Culture National Historic Park from new oil and gas leasing and mining claims for 20 years has drawn both positive and negative reactions from various groups affected by the order.

The order applies only to public lands and the federal mineral estate, not to minerals owned by private, state or tribal entities, according to a news release announcing the order. Nor does the order apply to existing leases, meaning additional wells could continue to be drilled on those leases, and Navajo Nation allotees can continue to lease their minerals.

The order makes good on a pledge by President Joe Biden to protect the greater Chaco area during a November 2021 White House Tribal Nations Summit.

Jim Winchester, executive director of the Independent Petroleum Association of New Mexico, characterized the 10-mile buffer zone “arbitrary” and said the order was “discompassionate” to the Native allottees it will affect. He claimed they will lose out on an estimated $194 million in potential royalties, according to figures cited by the Western Energy Alliance, and described the move as a capitulation to environmental groups that want to ban oil and gas drilling.

Winchester also said his organization has supported the Navajo Nation’s proposed five-mile buffer around the park and described Haaland’s order as highly unethical, claiming she has a conflict of interest because of her daughter’s political activism.

Farmington Daily Times: Criticism, Praise Directed At Chaco 10-Mile Buffer Order

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