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Happy Thanksgiving from IPANM!
On behalf of the IPANM Executive Board, we wish safe travels & well wishes to you, your employees, families and
New Mexico Joins Western States and Tribal Nations Natural Gas Initiative
BUSINESS WIRE (Nov. 19, 2019) -The State of New Mexico today became the newest member of Western States and Tribal Nations
Sharpe: New Video Highlights 'Don't Fear The Frack'
George Sharpe, IPANM Member (Nov. 18, 2019) - IPANM Member, Columnist, Energy Instructor and Investment Manager at Merrion Oil & Gas
Major GDP Uptick in New Mexico Linked to Oil & Gas
ABQ Journal (Nov. 17, 2019) - Oil and gas production grew New Mexico’s economic output by the fourth-highest rate in
NMDOT gets $12.5M from feds to improve U.S. 285 near Loving
Carlsbad Current Argus (Nov. 10, 2019) - More than $12 million in federal funds could help the New Mexico Department of
New Mexico Hits Record Production for Third Year-In-A-Row
ABQ Journal (Nov. 7, 2019) - Oil production continues gushing in southeastern New Mexico and on pace for another blockbuster
Federal Bill to Enlarge Chaco Buffer Zone Too Big and Premature
Inside Sources (Nov. 7, 2019) - New Mexico would suffer severe economic harm with the loss of revenue due to
Governor Lujan Grisham Would Seek Fracking Ban Waiver If Warren or Sanders Elected
IPANM, Reuters & OilPrice.com (Nov. 1, 2019) - While IPANM would have serious concerns if a newly-elected President would seek
Chaco Canyon "Buffer Zone" Bill Passes House Despite Republican Opposition
IPANM, C-SPAN & Associated Press (Oct. 31, 2019) - The U.S. House of Representatives on Wednesday approved legislation (H.R. 2181)
Sharpe: New Video Highlights 'The Role of Fossil Fuels In Our Energy Future'
George Sharpe, IPANM Member (Oct. 30, 2019) - IPANM Member, Columnist, Energy Instructor and Investment Manager at Merrion Oil & Gas

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Independent Petroleum Association of New Mexico

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Independent Petroleum Association of New Mexico

IPANM Administrative Offices
P.O. Box 6101, Roswell, New Mexico, 88202
Phone 575-622-2566

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Website designed by Siarza Social Digital

Natural Gas

WTI Crude Oil

On behalf of the IPANM Executive Board, we wish safe travels & well wishes to you, your employees, families and friends this Thanksgiving!

Thank you for your loyalty to IPANM in 2019!

Happy Thanksgiving!

 

BUSINESS WIRE (Nov. 19, 2019) -The State of New Mexico today became the newest member of Western States and Tribal Nations (WSTN) natural gas initiative, adding a strong advocate for the power of responsible, environmentally sound energy production to boost rural economies.

New Mexico’s joining creates the potential for other export avenues for the San Juan and Permian basins, especially after the State of Baja California, Mexico, became part of WSTN in August. Already, WSTN is pursuing export options for the Piceance and Uinta basins in Colorado and Utah, and Wyoming’s Green River basin.

New Mexico Joins Western States and Tribal Nations Natural Gas Initiative

 

George Sharpe, IPANM Member (Nov. 18, 2019) – IPANM Member, Columnist, Energy Instructor and Investment Manager at Merrion Oil & Gas in Farmington recently released his latest educational video entitled Don’t Fear The Frack.

Please take a few minutes to watch this informative video, and then share the link (https://www.youtube.com/watch?v=K-lCr2IWCwo) with your friends and co-workers!

 

ABQ Journal (Nov. 17, 2019) – Oil and gas production grew New Mexico’s economic output by the fourth-highest rate in the country this year, as the extraction industry boomed in the Permian Basin in the southeast corner of the state.

A  report from the Bureau of Economic Analysis, an arm of the U.S. Department of Commerce, showed New Mexico’s gross domestic product grew by 4.1% in the second quarter of 2019, tied with Alaska and behind Texas at 4.7% and Wyoming at 4.2%.

Nationwide, GDP grew by 2%, records show, and New Mexico also grew by 4.1% during the first quarter of 2019.

Major GDP Uptick in New Mexico Linked to Oil & Gas

 

 

Carlsbad Current Argus (Nov. 10, 2019) – More than $12 million in federal funds could help the New Mexico Department of Transportation (NMDOT) with improvements and safety enhancements on a busy southeastern New Mexico highway.

The U.S. Department of Transportation awarded the grant to NMDOT for work on a section of U.S. Highway 285 from Loving to the Texas border, read a news release from New Mexico’s congressional delegation.

The $12.5 million Better Utilizing Investments to Leverage Development (BUILD) grant will pay for repairs, turning and acceleration/deceleration lanes, shoulders, bridge work and stronger pavement on about the first 25 miles of 285 in New Mexico, per the release.

U.S. Sen. Tom Udall (D-NM) said the money is critical for public safety and the economy of Southeast New Mexico.

“Given the rapidly growing use of this roadway by heavy trucks and equipment, these federal funds will help NMDOT make U.S. 285 a safer, more reliable highway thoroughfare to the Texas border,” he said in the release.

U.S. 285 is a major transportation artery in southeastern New Mexico and increased traffic from the oil and gas boom has worsened road conditions along the route, the release read.

NMDOT should receive official word on the federal money Nov. 12, according to Spokesperson Manon Arnett.

“Although NMDOT has not been officially notified we are very pleased with the announcement and look forward to receiving official notice and putting the money to good use for our southeastern New Mexico partners,” she said.

Arnett said “it would be a few months” before NMDOT takes possession of the federal funds.

NMDOT gets $12.5M from feds to improve U.S. 285 near Loving

 

ABQ Journal (Nov. 7, 2019) – Oil production continues gushing in southeastern New Mexico and on pace for another blockbuster year, with estimates as high as 300-million-plus barrels of production for the year 2019.

Preliminary monthly production tallies by the state Oil Conservation Division show a huge increase in output during the first eight months of this year, up 36% compared with the same period in 2018 – itself a record year.

As of August, the latest month for which OCD estimates are available, production reached 209 million barrels of oil. That’s up from 153.5 million barrels during January-August last year, and it’s nearly twice the 108 million barrels reported for that same period in 2017.

At that pace, the state could well surge past 300 million barrels by year-end. That compares with 249 million barrels last year and 173 million in 2017.

And that, in turn, has flooded state coffers with an unprecedented wave of oil and gas revenue, generating $1 billion-plus budget surpluses in the last two years.

New Mexico on track for 300-million barrels of production in 2019

 

Inside Sources (Nov. 7, 2019) – New Mexico would suffer severe economic harm with the loss of revenue due to a drilling ban buffer zone around
Chaco Canyon. Specifically, Navajo allottees, who hold mineral rights in portions of the land, would lose a vital source of income in an economically depressed region.  With a ban, the Navajo allotees would be blocked from safely developing acreage that would be miles from Chaco Canyon Historic Park.

Oil and Gas Industry: Bill to Permanently Protect New Mexico’s Chaco Canyon Region Premature

IPANM, Reuters & OilPrice.com (Nov. 1, 2019) – While IPANM would have serious concerns if a newly-elected President would seek a nationwide fracking ban, we are encouraged that New Mexico Governor Lujan Grisham recognizes the importance of fracking to sustain the state economy. The linked article below contains the following quotes from Gov. Lujan Grisham.

“Without the energy effort in this state, no one gets to make education the top priority,” said New Mexico Democratic Governor Michelle Lujan Grisham in Santa Fe on October 8. If Trump loses next year’s election, she said in a later interview, she would request the Democratic president provide her state a waiver exempting it from any drilling ban “to allow us to continue to produce in New Mexico.”

Meanwhile, OilPrice.com reports that due to threats of a federal fracking ban with a new president, oil companies are responding by accelerating fracking in SouthEast New Mexico.

Drilling ban proposals divide Democrats in U.S. oil states

Democrats Just Accidentally Sparked A Federal Fracking Boom

IPANM, C-SPAN & Associated Press (Oct. 31, 2019) – The U.S. House of Representatives on Wednesday approved legislation (H.R. 2181) prohibiting drilling on the checkerboard of federal land that borders Chaco Canyon Historic Park in Northwest New Mexico. The measure also calls for terminating existing non-producing leases in the area and suggests more studies and protective measures be taken to address health, safety and environmental effects on communities and tribal interests. The bill, co-sponsored by Rep. Ben Ray Lujan (D-N.M.), Rep. Deb Haaland (D-N.M.) and Rep. Xochitl Torres Small (D-N.M.), calls for a 10-mile setback zone that would ban oil and gas drilling over approximately 300,000 acres of federal land, including land that already has been leased by the federal government.

During debate on H.R. 2181 on the U.S. House floor Wednesday, Republicans attempted to stop the bill citing arguments that New Mexico would suffer severe economic harm with the loss of revenue due to a drilling ban buffer zone around Chaco Canyon. Texas Congressman Jodey Arrington (R-TX) also cited the loss of revenue for Navajo allottees, who hold mineral rights in portions of the land that would be blocked from drilling by the legislation. Arrington’s Motion to Recommit H.R. 2181 failed on a mostly partyline vote 199-222.

US House OKs protections near historical park in New Mexico
Republican efforts to stop H.R. 2181 come up short
IPANM has submitted formal comments in opposition of H.R. 2181

Comments from Wednesday’s House Debate:

George Sharpe, IPANM Member (Oct. 30, 2019) – IPANM Member, Columnist, Energy Instructor and Investment Manager at Merrion Oil & Gas in Farmington recently released an educational video entitled Understanding Energy: The Role of Fossil Fuels In Our Energy Future.

Please take a few minutes to watch this informative video, and then share the link (https://www.youtube.com/watch?v=K-lCr2IWCwo with your friends and co-workers!