Posted on 04/19/2017 12:20:32 PM PDT by CedarDave
ALBUQUERQUE, N.M. As New Mexicos elected leaders wrangle over raising taxes to plug a budget shortfall, major multinational energy companies have quietly spent more than $13 billion in recent months on assets in the states oil and gas hot spots.
The new wave of investment bodes well for the industry being able to generate much-needed revenues for the struggling state over the long haul, analysts said.
The interest from companies such as Texas-based EOG Resources, ExxonMobil and Marathon Oil started last fall and is carrying into this year despite prices remaining around $50 a barrel.
New Mexico also led the nation last week in the number of new rigs added to the count, and state officials have been pulling in record earnings during monthly lease sales.
(Excerpt) Read more at abqjournal.com ...
The planet Jupiter has noticed the state of New Mexico???
Santa Fe legislators will find it hard to resist oil money. After the next election, NM will be helping Make America Great Again.
If NM won’t drill, perhaps Texas will do some extracurricular horizontal drilling.
I see what you did there lol!
EARTH FIRST!
(We can drill the other planets later.)
NM list PING!
I may not PING for all New Mexico articles. To see New Mexico articles by topic click here: New Mexico Topics
To see NM articles by keyword, click here: New Mexico Keywords
To see the NM Message Page, click here: New Mexico Messages
(The NM list is available on my FR homepage for anyone to use. Let me know if you wish to be added or removed from the list.)
(For ABQ Journal articles requiring a subscription, scroll down to the bottom of the page to view the article for free after answering a question or watching a short video commercial.)
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.