All Discussions Tagged 'PermianBasin' - GoMarcellusShale.com
2024-03-28T13:41:37Z
https://gomarcellusshale.com/forum/topic/listForTag?tag=PermianBasin&feed=yes&xn_auth=no
More American Gas production to Europe equals no World War THREE with Russia: An urgent call for negotiations
tag:gomarcellusshale.com,2022-07-07:2274639:Topic:901467
2022-07-07T14:14:02.921Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
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<div align="center"><span>ENERGY MARKETS BRIEFING</span></div>
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<div><span>Dr. Dan Fine</span><span>, distinguished energy scholar and MIT graduate,</span> <span>John Byrom</span><span>, PESCO Business Development Manager and</span> <span>Chris Hunter</span><span>, 4CED Consultant were presenters at an Energy Markets Briefing on Tuesday, June 21. Panelists were moderated by</span> <span>T. Greg Merrion</span><span>, Chairman of Merrion Oil and Gas.</span></div>
<div><span> </span></div>
<div><span>Dr. Fine spoke about the war in the Ukraine and how it might affect the U.S. and possibly the San Juan Basin as European countries, especially Germany, look for natural gas and oil resources for their energy needs. Although the war in Ukraine is a regional conflict, Dr. Fine believes it could escalate to a more global war if not careful. Dr. Fine also shared his concerns about the conflict beginning to materialize in Southeast Asia between Taiwan and China. </span></div>
<div><span>John Byrom shared insights into the emerging hydrogen markets and about PESCO's manufacturing capabilities. Chris Hunter updated the audience on developments with hydrogen and other energy related matters. WATCH THE VIDEO HERE-><a href="https://youtu.be/Mo4qjIJTZEc" target="_blank" rel="noopener">THE FULL LECTURE</a></span></div>
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Commentary: Interior leadership and Biden on Climate Change security Dr. Dan FineSpecial to the Daily Times
tag:gomarcellusshale.com,2021-03-03:2274639:Topic:885147
2021-03-03T01:43:20.139Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p><a href="https://www.daily-times.com/story/opinion/columnists/2021/02/25/opinion-dan-fine-interior-leadership-and-biden-climate-change-security/6807685002/" rel="noopener" target="_blank">The full article</a></p>
<p></p>
<p>"With the Department of Interior under the leadership of Interior secretary nominee Deb Haaland, the Biden Administration would open the way towards energy and climate. No longer would federal land and its uses be separate from social and cultural considerations of…</p>
<p><a href="https://www.daily-times.com/story/opinion/columnists/2021/02/25/opinion-dan-fine-interior-leadership-and-biden-climate-change-security/6807685002/" target="_blank" rel="noopener">The full article</a></p>
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<p>"With the Department of Interior under the leadership of Interior secretary nominee Deb Haaland, the Biden Administration would open the way towards energy and climate. No longer would federal land and its uses be separate from social and cultural considerations of climate and its change.</p>
<p class="gnt_ar_b_p">Change is not narrowly defined as “global warming.” It is set in such policy terms as “security.” </p>
<p class="gnt_ar_b_p">What have the California forest fires in common with the Texas polar freeze? </p>
<p class="gnt_ar_b_p">A pandemic-surviving population sees and fears “security” or systemic change in climate. It was also distressed that the price of San Juan natural gas increased from $2.00 to $100.00 overnight in reaction to the Texas grid power failure and ban on its natural gas production export to Mexico and other states.</p>
<img class="gnt_em_img_i" alt="Daniel Fine" src="https://www.gannett-cdn.com/-mm-/a667e60ad9b334abccba15c042b2f2da1bbfca31/c=46-0-478-576/local/-/media/2017/10/16/TXNMGroup/Farmington/636437589640831027-FMN-DANIEL-FINE.jpg?width=300&height=400&fit=crop&format=pjpg&auto=webp"/><br />
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<p class="gnt_ar_b_p">So far, President Biden is pursuing a strategy to remove carbon from oil and gas by limiting its production. This could remove 40% in transportation by cars and trucks</p>
<p class="gnt_ar_b_p">Not so easy as Bill Gates says. Yet the electric and hydrogen displacement of the combustion engine is folded into a minimum 1.6 trillion dollar infrastructure investment which changes all the spread sheets in business capital spending."</p>
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<p class="gnt_ar_b_p">As this Administration puts values before transactions (Trump) to restore American leadership of globalization among European powers, it must recognize Europe on energy and climate: all renewable as opposed to petroleum in transportation technology in five or six years. By rules and laws from EU Government? Yes.</p>
Fine: President Biden's 60-day federal land closure mark a new relationship with our public lands Dan FineSpecial to the Daily Times
tag:gomarcellusshale.com,2021-02-03:2274639:Topic:862428
2021-02-03T23:18:16.022Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p><a href="https://www.daily-times.com/story/opinion/columnists/2021/01/27/commentary-daniel-fine-biden-oil-gas-lease-hold-signals-change-federal-land-management/4285004001/" rel="noopener" target="_blank">Dr Fine's full article</a></p>
<p>"</p>
<p class="gnt_ar_b_p">The Biden Administration is here and the Republican Party is fractured — as I projected in my last column in these pages. Now the issue for the San Juan Basin and the Four Corners around it is the future of land which the national…</p>
<p><a href="https://www.daily-times.com/story/opinion/columnists/2021/01/27/commentary-daniel-fine-biden-oil-gas-lease-hold-signals-change-federal-land-management/4285004001/" target="_blank" rel="noopener">Dr Fine's full article</a></p>
<p>"</p>
<p class="gnt_ar_b_p">The Biden Administration is here and the Republican Party is fractured — as I projected in my last column in these pages. Now the issue for the San Juan Basin and the Four Corners around it is the future of land which the national government owns and manages. </p>
<p class="gnt_ar_b_p">It collected revenues of nearly $10 billion per year before the Pandemic from oil leases which are worked privately in oil and liquids extraction. All this now is in a 60 day “freeze” as the Biden Administration installs new Interior Department Management.</p>
<p class="gnt_ar_b_p">The Interior Department should soon have a Secretary and a new and different bureaucratic team. The 60-day “freeze” allows for a transfer of power over 245 million surface acres of the United States. </p>
<p class="gnt_ar_b_p"><strong>Others are reading:</strong> <a href="https://www.daily-times.com/story/news/2021/01/27/new-mexico-senators-advocates-back-biden-oil-and-gas-plans-climate-change/4283804001/" target="_blank" rel="noopener" class="gnt_ar_b_a">New Mexico senators, advocates back Biden oil and gas plans</a></p>
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<p class="gnt_ar_b_p">The holdovers from the Trump Administration in the Bureau of Land Management have been preempted from all authority.</p>
<p class="gnt_ar_b_p">For 60 days, the Four Corners community and the Navajo Nation might begin to adjust to a new relationship to federal land. </p>
<p class="gnt_ar_b_p">The Trump Administration, doubtless, is the final 19th century vision of the West and the use of this Land. It was part of the “Manifest Destiny” and settled through displacement by millions before and after the War Between the States.</p>
<p class="gnt_ar_b_p">It is now to be managed consistent with its original people, as a characteristic of the Biden Administration</p>
<img class="gnt_em_img_i" alt="Daniel Fine" src="https://www.gannett-cdn.com/-mm-/a667e60ad9b334abccba15c042b2f2da1bbfca31/c=46-0-478-576/local/-/media/2017/10/16/TXNMGroup/Farmington/636437589640831027-FMN-DANIEL-FINE.jpg?width=300&height=400&fit=crop&format=pjpg&auto=webp"/><br />
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<p class="gnt_ar_b_p">The Navajo Nation's future has been changed by the pandemic. San Juan County can merge with security and equity in building a Four Corners defense, storage, manufacturing and transportation hub with a changed Window Rock government.</p>
<p class="gnt_ar_b_p">And more. </p>
<p class="gnt_ar_b_p">Native American communities have survived across many centuries of discrimination, assaults on lives and culture and, lately, a pandemic. Now U.S. Rep. Deb Haaland, a member of the Pueblo of Laguna, is nominated by President Joe Biden for Secretary of the U.S. Department of the Interior to manage public lands and trust obligations to American Indian tribes and Alaska Natives."</p>
New Mexico watching as Texas considers limits on oil production By Jens Gould jgould@sfnewmexican.com Apr 25, 2020
tag:gomarcellusshale.com,2020-04-27:2274639:Topic:827225
2020-04-27T05:01:06.794Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p>The full article is here-> <a href="https://www.santafenewmexican.com/news/business/new-mexico-watching-as-texas-considers-limits-on-oil-production/article_e05dd462-83f7-11ea-8cee-d362092f912d.html" rel="noopener" target="_blank">https://www.santafenewmexican.com/news/business/new-mexico-watching-as-texas-considers-limits-on-oil-production/article_e05dd462-83f7-11ea-8cee-d362092f912d.html</a></p>
<p>"As oil prices have plummeted to levels never before seen, a rift has opened among the…</p>
<p>The full article is here-> <a href="https://www.santafenewmexican.com/news/business/new-mexico-watching-as-texas-considers-limits-on-oil-production/article_e05dd462-83f7-11ea-8cee-d362092f912d.html" target="_blank" rel="noopener">https://www.santafenewmexican.com/news/business/new-mexico-watching-as-texas-considers-limits-on-oil-production/article_e05dd462-83f7-11ea-8cee-d362092f912d.html</a></p>
<p>"As oil prices have plummeted to levels never before seen, a rift has opened among the companies that extract crude.</p>
<div class="subscriber-preview"><p>Some of them say state regulators should force producers to pump less in the hopes such regulation will raise prices.</p>
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<div class="subscriber-preview"><p>Others say no, just let the market do its job.</p>
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<div class="subscriber-only"><p>While Texas, an oil-producing behemoth, is weighing the controversial idea of imposing limits, New Mexico, now an oil powerhouse in its own right, has largely stayed out of that debate.</p>
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<div class="subscriber-only"><p>Depending where oil prices go and what other states decide to do, there may come a point when the state needs to take a position. But key state officials disagree on where New Mexico should go.</p>
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<div class="subscriber-only"><p>The issue has come to the fore as the COVID-19 crisis — paired with an international price war between Saudi Arabia and Russia — triggered a precipitous decline. Stay-at-home orders that keep Americans from traveling have drained demand for products like gasoline and jet fuel.</p>
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<div class="subscriber-only"><p>Yet oil producers continued to pump through the spring, leading to a massive oversupply — and an unprecedented crash. Early last week, that glut of crude caused oil futures to fall into negative territory for the first time ever, and despite somewhat of a recovery since then, prices remain far below profitable levels for U.S. companies.</p>
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<div class="subscriber-only"><p>The decline also means New Mexico oil revenue has become peanuts compared to the hefty sums the state was taking in during the boom. One key legislator has projected oil and tax revenue will fall short of projections by as much as $2 billion for next fiscal year.</p>
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<div class="subscriber-only"><p>Though global oil producers agreed to a historic production cut earlier this month, the question emerged whether oil-producing states in the U.S. should also mandate cuts to drive prices higher.</p>
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<div class="subscriber-only"><p>So far, the State Land Office has issued an emergency rule allowing oil and gas companies to voluntarily shut in, or close, their wells without penalty, and regulators said many companies are doing so because they can’t ship their oil anywhere.</p>
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<div class="subscriber-only"><p>Yet Land Commissioner Stephanie Garcia Richard suggested the state should go even further."</p>
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On the Oil Price War and price collapse with oil and gas expert Dr. Daniel Fine and the CEO of Merrion Oil, T. Greg Merrion
tag:gomarcellusshale.com,2020-04-26:2274639:Topic:827083
2020-04-26T04:54:13.975Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p><a href="https://youtu.be/rBs4QwMzffM">The INTERVIEW IS HERE-> https://youtu.be/rBs4QwMzffM</a></p>
<h1 class="title style-scope ytd-video-primary-info-renderer">Oil & Gas context: Dr. Daniel Fine & T. Greg Merrion on the oil price war and price collapse -What comes next-. A very insightful must see interview!</h1>
<p></p>
<p><a href="https://youtu.be/rBs4QwMzffM">The INTERVIEW IS HERE-> https://youtu.be/rBs4QwMzffM</a></p>
<h1 class="title style-scope ytd-video-primary-info-renderer">Oil & Gas context: Dr. Daniel Fine & T. Greg Merrion on the oil price war and price collapse -What comes next-. A very insightful must see interview!</h1>
<p></p>
Pandemic rocks Permian Basin as wells, rigs idled and workers laid off By Jens Gould
tag:gomarcellusshale.com,2020-04-20:2274639:Topic:826761
2020-04-20T01:32:44.135Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p>The full article is here-> <a href="https://www.santafenewmexican.com/news/coronavirus/pandemic-rocks-permian-basin-as-wells-rigs-idled-and-workers-laid-off/article_4fce0236-7e62-11ea-ba2d-8bfb85bee449.html" rel="noopener" target="_blank">The full article</a></p>
<p>Seth Aldridge was at the tail end of a 12-hour night shift when he got the call at 6 a.m.</p>
<p>The voice on the other end said he had just lost his job as an oil field pumper for Occidental Petroleum in the Permian…</p>
<p>The full article is here-> <a href="https://www.santafenewmexican.com/news/coronavirus/pandemic-rocks-permian-basin-as-wells-rigs-idled-and-workers-laid-off/article_4fce0236-7e62-11ea-ba2d-8bfb85bee449.html" target="_blank" rel="noopener">The full article</a></p>
<p>Seth Aldridge was at the tail end of a 12-hour night shift when he got the call at 6 a.m.</p>
<p>The voice on the other end said he had just lost his job as an oil field pumper for Occidental Petroleum in the Permian Basin.</p>
<p>“It was a shock to get the call, for sure,” said Aldridge, a 34-year-old resident of Lea County. “You see it coming, but you never really think … or you hope it’s not you that gets that ax.”</p>
<div id="tncms-region-article_instory_top" class="tncms-region hidden-print"></div>
<p>The ax is falling throughout energy-rich southeastern New Mexico as crude prices have plummeted amid the COVID-19 pandemic. It’s a swift and stunning reversal for an area of the state that until last month had been riding high on the greatest oil boom in its history.</p>
<p>It wasn’t long ago that some of the largest oil companies in the world were flocking to Lea and Eddy counties to boost oil production, open regional offices and add high-paying jobs that attracted workers from across the country to cities like Carlsbad and Hobbs.</p>
<p>Within the span of just around a month, that boom has turned to a bust. Serious doubts have now been cast over the short- and even medium-term future of oil and gas production in the area, as producers shut down wells, idle drilling rigs and say goodbye to workers.</p>
<p>“We’re seeing layoffs, we’re seeing equipment stacked in yards and we are seeing primarily the lower-volume wells shut in,” said Rep. Larry Scott, who, in addition to representing Hobbs in the state House, is the owner of Lynx Petroleum.</p>
<p>Projections reflect that pessimism. Daniel Fine, an oil and gas researcher with New Mexico Tech, estimates oil output on New Mexico’s side of the Permian in the second quarter of this year will fall to less than half of what it was before the new coronavirus outbreak.</p>
Hitting the brakes BY KEVIN ROBINSON-AVILA / JOURNAL STAFF WRITER
tag:gomarcellusshale.com,2020-04-08:2274639:Topic:826059
2020-04-08T16:40:01.315Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p></p>
<p>The complete article is here-></p>
<p><a href="https://www.abqjournal.com/1441435/hitting-the-brakes.html" rel="noopener" target="_blank">https://www.abqjournal.com/1441435/hitting-the-brakes.html</a></p>
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<p>"</p>
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<h1>Hitting the brakes</h1>
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<h5>BY <a href="https://www.abqjournal.com/author/krobinson-avila">KEVIN ROBINSON-AVILA / JOURNAL STAFF WRITER</a></h5>
<div class="published"><span>Published:</span> Tuesday, April 7th, 2020 at 10:05pm…</div>
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<p>The complete article is here-></p>
<p><a href="https://www.abqjournal.com/1441435/hitting-the-brakes.html" target="_blank" rel="noopener">https://www.abqjournal.com/1441435/hitting-the-brakes.html</a></p>
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<p>"</p>
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<h1>Hitting the brakes</h1>
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<h5>BY <a href="https://www.abqjournal.com/author/krobinson-avila">KEVIN ROBINSON-AVILA / JOURNAL STAFF WRITER</a></h5>
<div class="published"><span>Published:</span> Tuesday, April 7th, 2020 at 10:05pm</div>
<div class="updated"><span>Updated:</span> Tuesday, April 7th, 2020 at 10:22pm</div>
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<div class="entry"><div class="p402_premium"><i>Copyright © 2020 Albuquerque Journal</i><p></p>
<div class="p402_hide"><div id="attachment_1441444" class="wp-caption alignleft"><img class="size-full wp-image-1441444" src="https://d3el53au0d7w62.cloudfront.net/wp-content/uploads/2020/04/07/a01_jd_08apr_opec.jpg" alt="" width="3299" height="2553"/><p class="wp-caption-text">A pump jack east of Carlsbad in Lea County. (Eddie Moore/Albuquerque Journal)</p>
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<p>New Mexico’s oil and gas industry is teetering on a near-shutdown, slammed by plunging demand for oil and an unprecedented global market glut that’s slashed prices to 20-year lows.</p>
<p>New drilling in the Permian Basin in southeastern New Mexico is screeching to a halt, and many producers are starting to shut in existing wells to await better times. That, in turn, foreshadows a double whammy on the state budget, as government revenue tumbles from plummeting oil prices and forthcoming production declines.</p>
<p>“It’s not pretty down here,” said Raye Miller, president of oil company Regeneration Energy Corp. in Artesia. “Probably the most activity we’re seeing now is from folks moving rigs out of the oil fields and into storage yards.”</p>
<div class="p402_hide story-ad-wrap dfp-ad ad advertisement"><p class="disclaimer">ADVERTISEMENT<a class="ad-skip-btn" href="https://www.abqjournal.com/1441435/hitting-the-brakes.html#story-ad-0-skip-target">SKIP</a></p>
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<p>Although unemployment data is not yet available, State Rep. Larry Scott, R-Hobbs, said companies are slashing their payrolls.</p>
<p>“We’re seeing layoffs, salary reductions and equipment moving back to storage yards,” said Scott, a longtime oilman and owner of Lynx Petroleum in Hobbs. “I know of several companies that have announced substantial layoffs of 80 to 100 workers.”</p>
<p>One industry expert predicts a loss of more than 60% of New Mexico’s active oil rigs, which would translate to more than 2,000 layoffs.</p>
<p>Oil producers in New Mexico and elsewhere are hoping for some relief this week, because the Organization of Petroleum Exporting Countries, Russia and other oil-producing nations plan to meet Thursday to discuss potential, collective cutbacks in output to reduce world oversupply and lift prices.</p>
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Expert Dan Fine discusses future of oil, natural gas amid low prices and the coronavirus
tag:gomarcellusshale.com,2020-04-07:2274639:Topic:825994
2020-04-07T00:17:16.062Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p>The full article is here-> <a href="https://www.daily-times.com/story/news/local/2020/04/03/energy-researcher-presents-grim-outlook-oil-industry-amid-coronavirus/5115776002/" rel="noopener" target="_blank">The complete article is here</a></p>
<p>"</p>
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<div class="asset-metabar"><span class="asset-metabar-author asset-metabar-item">Hannah Grover, Farmington Daily Times</span><span class="asset-metabar-time asset-metabar-item nobyline">Published 7:00 a.m. MT April 3,…</span></div>
<p>The full article is here-> <a href="https://www.daily-times.com/story/news/local/2020/04/03/energy-researcher-presents-grim-outlook-oil-industry-amid-coronavirus/5115776002/" target="_blank" rel="noopener">The complete article is here</a></p>
<p>"</p>
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<div class="asset-metabar"><span class="asset-metabar-author asset-metabar-item">Hannah Grover, Farmington Daily Times</span><span class="asset-metabar-time asset-metabar-item nobyline">Published 7:00 a.m. MT April 3, 2020</span></div>
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<div id="module-position-SmpMgXIBI_c" class="story-asset image-asset"><img src="https://www.gannett-cdn.com/presto/2019/12/24/PNM7/e7356e4b-65a2-464b-b72f-405eb7fbfe34-oil_well1_September_2012.jpg?width=540&height=&fit=bounds&auto=webp" alt="A pump jack is seen in September 2012 off Road 6480 during sunset." width="540"/><span class="mycapture-btn-wrap"><span class="mycapture-non-priority-horizontal-image mycapture-btn-with-text js-mycapture-btn js-mycapture-photo-asset">Buy Photo</span></span><p>A pump jack is seen in September 2012 off Road 6480 during sunset. <span class="credit">(Photo: Augusta Liddic/The Daily Times)</span></p>
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<p class="speakable-p-1 p-text">AZTEC — Two tweets sent by President Donald Trump on the morning of April 2 spurred optimism for an oil industry hit hard by a flood of oil from Saudi Arabia and Russia, driving down the price.</p>
<p class="speakable-p-2 p-text">But Dan Fine, an energy researcher and associate director of the New Mexico Center for Energy Policy at New Mexico Tech, said he is skeptical that the president has a deal.</p>
<p class="p-text">Four Corners Economic Development hosted a webinar April 2 during which Fine provided updates on current industry conditions and forecasts.</p>
<p class="p-text"><span class="exclude-from-newsgate"><strong>Read more:</strong> <a href="https://www.daily-times.com/story/news/local/2020/04/01/prc-zoom-meeting-san-juan-generating-station-disrupted-shut-down/5104368002/" target="_blank" rel="noopener">PRC unanimously approves PNM ending operations of San Juan following meeting interruption</a></span></p>
<p class="p-text">Trump tweeted that he has spoken to the crown prince of Saudi Arabia as well as Russian President Vladimir Putin and expects those two countries will decrease oil output by 10 million barrels. His second tweet stated that the two countries could decrease output by 15 million barrels.</p>
<p class="p-text">These Tweets come after oil prices fell by two-thirds in the first three months of the year.</p>
<div id="module-position-SmpMgXIol94" class="story-asset image-asset"><img src="https://www.gannett-cdn.com/presto/2020/04/02/PNM7/02c00363-b78d-4286-8db6-b2735abd095d-Trump_Tweet_one.JPG?width=540&height=&fit=bounds&auto=webp" alt="President Donald Trump expressed hopes that Saudi Arabia and Russia may reduce oil production, which would help the industry." width="540"/><p>President Donald Trump expressed hopes that Saudi Arabia and Russia may reduce oil production, which would help the industry. <span class="credit">(Photo: Twitter screengrab)</span></p>
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<p class="p-text">Fine said Russia, which has been frustrated by some of the U.S. foreign policies including moves to sell oil to Belarus, is prepared to go six months to a year at the current low prices.</p>
<p class="p-text">And Saudi Arabia previously tried a similar tactic of flooding the market with oil in 2014. </p>
<p class="p-text">“This is a second chance for them,” he said. “They’re not going to easily give this up.”</p>
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Major slowdown expected in U.S. shale oil production BY KEVIN ROBINSON-AVILA / JOURNAL STAFF WRITER Wednesday, December 11th, 2019
tag:gomarcellusshale.com,2019-12-13:2274639:Topic:820132
2019-12-13T19:55:49.186Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<p><a href="https://www.abqjournal.com/1400398/major-slowdown-expected-in-us-shale-oil-production.html" rel="noopener" target="_blank">https://www.abqjournal.com/1400398/major-slowdown-expected-in-us-shale-oil-production.html</a></p>
<p>"<strong>Last in a five-part series:</strong> <a href="https://abqjournal.com/boom" rel="noopener" target="_blank">Behind the Boom</a></p>
<p><i>Copyright © 2019 Albuquerque Journal</i></p>
<p>The shale-oil tsunami that has flooded New Mexico with a wave of…</p>
<p><a href="https://www.abqjournal.com/1400398/major-slowdown-expected-in-us-shale-oil-production.html" target="_blank" rel="noopener">https://www.abqjournal.com/1400398/major-slowdown-expected-in-us-shale-oil-production.html</a></p>
<p>"<strong>Last in a five-part series:</strong> <a href="https://abqjournal.com/boom" target="_blank" rel="noopener">Behind the Boom</a></p>
<p><i>Copyright © 2019 Albuquerque Journal</i></p>
<p>The shale-oil tsunami that has flooded New Mexico with a wave of petro dollars in recent years may be receding somewhat as U.S. production faces its first significant decline since the gushers began nearly eight years ago.Signs of trouble are showing up in major basins around the country, with a significant drop in drilling rig activity and sluggish growth this year compared with the spectacular bursts of production in recent years that has transformed the U.S. into the world’s No. 1 oil producer.</p>
<div class="p402_hide story-ad-wrap dfp-ad ad advertisement"><p>A new report released in November by global research and consulting firm IHS Markit says the U.S. is headed for a “major slowdown,” reflecting today’s moderate oil prices, investor reluctance to continue pumping huge sums into companies that have shown only modest returns on capital, and significant productivity declines in shale-oil fields.</p>
<p>That poses substantial challenges going forward.</p>
<p>But a prolonged bust is unlikely, and New Mexico may be less affected than other places. That’s because the Permian Basin in West Texas and southeastern New Mexico remains at the forefront of the shale revolution, thanks to its rich resources, low production costs and the huge gushers that flow from wells drilled there.</p>
<p>As a result, New Mexico is well-positioned to navigate through the current headwinds, said Raoul LeBlanc, IHS Markit’s vice president for North American unconventionals.</p>
<p>“The Permian has an inventory of highly productive wells yet to be drilled that will last many years,” LeBlanc told the Journal. “New Mexico is in a really good spot. It’s proven extremely productive compared with anywhere else.”</p>
<p>Many companies are cutting back on investments in less lucrative zones to refocus on their most productive assets. That bodes well for New Mexico’s side of the Permian, where operators can still tap into rich, productive pools of hydrocarbons at lower cost than in other places."</p>
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Increasing Natural Gas Trade Between the U.S and Mexico (Heritage Foundation Backgrounder)
tag:gomarcellusshale.com,2019-07-04:2274639:Topic:804317
2019-07-04T00:31:33.007Z
Bob Perkins
https://gomarcellusshale.com/profile/BobPerkins
<h1>Increasing Natural Gas Trade Between the U.S and Mexico</h1>
<p>The full white paper is here-> <a href="https://www.heritage.org/trade/report/increasing-natural-gas-trade-between-the-us-and-mexico" rel="external nofollow noopener" target="_blank">https://www.heritage.org/trade/report/increasing-natural-gas-trade-between-the-us-and-mexico</a></p>
<div>July 1, 2019<span> </span><span> </span><span>22 min read</span><span> …</span></div>
<h1>Increasing Natural Gas Trade Between the U.S and Mexico</h1>
<p>The full white paper is here-> <a href="https://www.heritage.org/trade/report/increasing-natural-gas-trade-between-the-us-and-mexico" rel="external nofollow noopener" target="_blank">https://www.heritage.org/trade/report/increasing-natural-gas-trade-between-the-us-and-mexico</a></p>
<div>July 1, 2019<span> </span><span> </span><span>22 min read</span><span> </span><a href="https://www.heritage.org/sites/default/files/2019-07/BG3419.pdf" rel="external nofollow noopener" title="Download Printable Report" target="_blank">Download Report</a></div>
<div><div><div><p><span>Authors:</span><span>Daniel Fine</span><span> </span>and<span> </span><a href="https://www.heritage.org/staff/nicolas-loris" rel="external nofollow noopener" target="_blank"><span>Nicolas Loris</span></a></p>
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<div><p><span> </span>SUMMARY</p>
<div>Increased energy trade has important economic and strategic significance for the United States and Mexico. Mexico’s energy-market reforms that opened access and improved natural gas trade between American producers and Mexican consumers have been beneficial for citizens in both countries. President López Obrador’s desire to return to energy nationalism threatens those gains. Both the U.S. and Mexico should commit to policies and regulations that continue to open access to markets, improve transparency, and expand opportunities for investment. Doing so will benefit both Americans and Mexicans.</div>
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