Oklahoma oil and gas companies such as Devon Energy have a very good reason why they’re drilling for oil in southeast New Mexico, part of the Permian Basin. They’re part of historic oil production.
New Mexico’s Lea and Eddy Counties are becoming the most prolific producers of crude oil in the country. How prolific? The two counties had combined oil production last year that made up 17% of all the onshore oil produced in the U.S.
Lea County’s production grew faster last year than any other county in the nation and became the first county to ever produce more than 1 million barrels of oil a day, reported Bloomberg.
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