New Mexico, where some Oklahoma-based energy firms are active in Permian Basin drilling is reported to be rebounding from the coronavirus pandemic that hit the oil and gas industry last year according to oil firm officials who testified before a legislative committee.
The rebound in the industry is occurring despite the Biden administration’s freeze on new oil and gas leases on public lands in the state. Adding to the state’s revenue growth from the industry are oil prices at $73 a barrel in the US and $75 in Europe reported the Santa Fe New Mexican.
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