Forecast says Permian Basin oil production in New Mexico will peak in a few years

With oil's future uncertain, orphaned wells on public lands could become a  big problem for New Mexico | NM Political Report


If the experts are accurate, oil production in New Mexico’s share of the Permian Basin will peak in 5 to 10 years.

It’s what New Mexico legislators were recently the State’s Chief Economist Leo Delgado who attributed the prediction to national forecasters IHS Markit and Moody’s Investors Service.

If so, New Mexico could begin seeing a decline in its booming oil and gas production, as well as revenue from the industry.

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