Just as the STACK and SCOOP plays in Oklahoma are suffering in the COVID-19 pandemic, so is the Permian Basin of West Texas and southeastern New Mexico and now New Mexico legislators are warned the Permian’s recovery will be a long time coming.
New Mexico’s oil and gas business provided a record $3.1 billion in revenue to the state treasury and naturally, legislators are concerned about the industry’s ability to provide revenue in the future.
The Santa Fe New Mexican reported an expert went before a key legislative committee this week and said the coronavirus pandemic has claimed the industry as one of its victims.
Click here for the story from the Santa Fe New Mexican.