New Mexico continues to prosper from the Permian Basin, and is now America’s third-highest oil producing state. This increase in oil production has provided the state with significant fiscal benefits. New Mexico is predicted to collect a record $7.8 billion in revenue this year thanks to the oil & gas industry. The New Mexico Legislative Finance Committee report shows that the state's revenue is $273 million above previous projections.More Revenue for A Better Community This record-breaking revenue will benefit New Mexico’s communities by increasing funds towards public schools & universities, infrastructure improvements, and other state programs. The state has been cash-heavy in recent years which has allowed local lawmakers to approve a $663 million spending increase. The budget increase was 11% higher, and about two-thirds of increase will go towards teachers’ salary raises and other education spending. $389 million in spending is already allocated towards highway repairs and other construction efforts within New Mexico.New Year for More Production While this fiscal year has closed, New Mexico’s land continues to show promise of increased production. The rise of the Permian Basin has generated revenue surpluses for the betterment of the community. From the sidewalks to the classrooms, the benefits of oil and gas are present every day.
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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 Southeast 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
