A new report via The Carlsbad Current Argus confirms what most of us locals already knew: The Permian Basin is heating up and it shows no signs of slowing down anytime soon.Thanks to the Trump Administration’s support for domestic energy production and a more positive overall National business environment, 2018 promises to be an exciting year for the oil and gas industry as a whole, but especially at the local level.Let’s take a closer look at the numbers:
General Electric reports that there are 87 oil rigs currently operating in New Mexico. That’s compared to 48 at the same time last year.
New Mexico currently boasts the third highest rig count in the entire country behind Texas and Oklahoma.
The Permian Basin (both Texas and New Mexico) has seen an increase of 129 oil rigs during the last year.
Oil rigs in the Permian Basin now total 435.
New Mexico has added over 35 rigs in just the last two months.
This isn’t a flash in the pan either. Following a handful of tough years, industry experts say we have reason to be optimistic. Jim Winchester of the Independent Petroleum Association of New Mexico told the Carlsbad Current Argus that “The anticipation is that the momentum will continue to move in our favor. There is a lot of strong work being done to bring infrastructure up to speed. That is essential to keep the Permian growing.”Source: Carlsbad Current Argus
Share
Chase Energy Services
Chase Energy Services is one of the largest privately held integrated oilfield services company in the US, providing end-to-end oilfield services through an experienced management team, innovative technologies and an unrelenting focus on safety. With more than 500 employees, the company serves customers across Southwest New Mexico and West Texas in frac and acidizing, well construction and completion, cementing solutions and well servicing. learn more
Chase Energy Services, Inc.11344 Lovington HWYArtesia, NM 88210(575) 748-1288
