Gross Receipts to the Treasury for the past 12 months topped a landmark high of $17 billion, State Treasurer Randy McDaniel announced Thursday. Twelve-month gross receipts through September are $17.03 billion, up by $2.51 billion, or 17.3 percent, from the prior 12 months. That total is more than $4 billion, or 31 percent, higher …
October 6, 2022 archive
States agree to tandem regulation of oil and gas operations
New Mexico and Texas agreed to work together in regulating oil and gas operations that cross the state lines in the Permian Basin. In some cases, horizontal wells drilled in New Mexico crossed the state line and vice versa reported the Carlsbad Current Argus. Click here for Carlsbad Current Argus
$8 billion Cheniere Energy LNG expansion project started in Texas
A formal groundbreaking ceremony was held this week by Cheniere Energy over an $8 billion expansion of its Corpus Christi liquefied natural gas plant. The project won’t be completed until 2025 and the expansion will include seven additional production lines or “trains” reported the Corpus Christi Caller-Times. Click here for Corpus Christi Caller-Times
Cushing crude oil reserves hold steady
A slight gain in the amount of crude oil held at the Cushing oil hub was recorded in the past week according to the U.S. Energy Information Administration. The EIA reported the amount in storage as of September 30 was 26 million barrels of crude oil, a gain of 300,000 barrels over the previous …
Other headlines of energy stories
** OPEC+ announced it’ll slash output by 2 million barrels per day (bpd) on Wednesday (Oct. 5), the biggest cut since the pandemic started in 2020. The White House’s reaction was swift, calling the decision “shortsighted” and accusing the oil cartel of “aligning with Russia.” ** President Biden on Wednesday said he would release 10 million more barrels …
New Mexico congressional candidate changes tune about oil and gas
A Democratic candidate for Congress from New Mexico finds himself in a quandary as election time approaches. Should he stand by his 2018 call for an immediate end to oil and gas production or tell voters, the oil and gas industry is really important to New Mexico? Guess what Gabe Vasquez, a former …
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