NM breaks oil and gas production records in 2020

Oil and gas production in New Mexico set another record for 2020 even as COVID-19 decimated fuel demands and the market struggled.

Data from the State’s Oil Conservation Division (OCD) reported New Mexico finished 2020 with about 367.8 million barrels of oil produced, an about 10.8 percent increase from 2019’s total of about 331.8 million barrels of oil.

Although 2020’s total was the highest since the OCD began tracking oil production in the 1970s, growth declined from an about 33.2 percent increase between 2018 which had a total of about 248.9 million barrels of oil produced to 2019.

Natural gas production in New Mexico also broke the record in 2020, with about 1.9 trillion cubic feet produced, surpassing the record of about 1.6 trillion cubic feet set in 2001, OCD records show.

Read more here: https://www.ruidosonews.com/story/news/local/2021/03/30/new-mexico-breaks-oil-and-gas-production-records-2020/6972601002/

By Adrian Hedden for Carlsbad Current Argus

 

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