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Oil patch woes are bleak news for NM

The massive bleeding in New Mexico’s oil and gas industry has subsided, thanks to

modest recovery in prices, but producers don’t expect a major comeback anytime soon.

 

“Overall, the view is still pessimistic, at best,” said Gregg Fulfer, Lea County Commission chair and owner of Fulfer Oil and Cattle Co. in Jal. “People have cut back, and there are no plans that I can see to gear back up yet.”

Read the full story:

By Kevin Robinson-Avila, Journal Staff Writer

Monday, July 4th, 2016 

Lessons learned through boom and bust

FARMINGTON, N.M. — As the price of crude oil hovers around $30 a barrel with only two rigs currently running in the San Juan Basin, many local oil and gas companies have responded by laying off employees and struggling to pay down debt.

But not all of them.

Some of the longer-running oil and gas business owners in town say that while no downturn is pretty, they have all posed similar challenges and familiar demands on anyone running any kind of company.

Three Farmington oil and gas company owners who have survived boom and bust cycles — once or several times — share what they’ve learned.

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By James Fenton / The Daily Times

Wednesday, March 9th, 2016 at 9:05am

ACEI's Bradford County featured in Fayetteville Observer

Fayetteville Observer: Pa. gas boom hints at future for Cape Fear region

May 21, 2014 by By Andrew Barksdale

"...In 2008, the first drilling rig went up in Bradford County, a rural river valley of about 62,000 residents in northeastern Pennsylvania. Today, more than 800 wells, like this one owned by Southwestern Energy of Houston, are extracting gas from the undulating hills with views of barns and grain silos.

Read more: ACEI's Bradford County featured in Fayetteville Observer

Follow America's Counties

EnergyCounties U.S. Chamber: Drilling ban on fed lands costly https://t.co/DIsIo4TkyC via @TheDailyTimes
EnergyCounties We're talking loss of Jobs, Revenues and Royalties for New Mexico due to burdensome federal regulations https://t.co/KLFlEqsvjH
EnergyCounties ACEI will be in Roswell to celebrate NM Oil&Gas producers join us on Wednesday, 8/31/16 6:30 pm at the Convention Ctr. parking lot.