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Eddy County dominates NM Energy

Who’s top dog for energy in the Permian Basin? According to a study from the Carlsbad Department of Development, New Mexico’s Eddy County tops the charts for both oil and gas production throughout the Basin. “We always were aware that our natural gas production regularly outpaced all of the other 28 counties in the Permian Basin,” the Department’s Director John ...

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Low prices threaten to curb rising rig count

Permian Basin producers added another three rigs in the week ending Friday, according to the widely-watched Baker Hughes rig count. But observers met the ongoing uptick in drilling activity with concern that it might be short-lived, after another dip in oil prices in July threatened to erase the gains of the previous months. The latest build in Permian rigs left ...

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Billionaire oil, investment leader to headline energy summit

CARLSBAD – Billionaire T. Boone Pickens, founder of Mesa Petroleum and current chairman of BP Capital Management hedge fund, will be the headline speaker at September’s Southeastern New Mexico Energy Summit. “We’re just so happy that he’s coming to Carlsbad,” said Carlsbad Mayor Dale Janway. “I’ve been following Boone Pickens for many, many years. I am a big fan of ...

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Part of Wyoming-to-Midwest gas line to flow other direction

CASPER, Wyo. — Part of a $4 billion natural gas pipeline completed six years ago to export gas from the Rocky Mountain region to the Midwest is about to move gas in the opposite direction. The reason: Surging gas production in eastern states has provided a new source of gas for Chicago and other Midwestern markets. On Aug. 1, Rockies ...

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Oil company gets $130K fine

The Middle Pecos Groundwater Conservation District leveled a $130,000 fine against a small oil company accused of illegally dumping toxic waste water in a stretch of rural pasture near Imperial. The waste, known as produced water, emerges from an oil well after completion and contains potentially harmful organic and inorganic chemicals. Six of the 11 groundwater district members that attended ...

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NM rakes in $33 billion

The state of New Mexico scored a hefty chunk of change following U.S. Bureau of Land Management’s recent oil and gas lease sale. The sale include 69 federal leases throughout Texas, Oklahoma and New Mexico, the Albuquerque Business Journal reports. Of the more than $70 million in BLM revenues, New Mexico is entitled to about $33.4 million from its 53 ...

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Oil company gets $130K fine

The Middle Pecos Groundwater Conservation District leveled a $130,000 fine against a small oil company accused of illegally dumping toxic waste water in a stretch of rural pasture near Imperial. The waste, known as produced water, emerges from an oil well after completion and contains potentially harmful organic and inorganic chemicals. Six of the 11 groundwater district members that attended ...

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June job stats point to a resilient Texas despite oil slump

Even with hindering oil prices, Texas still rated third in the nation for job growth in June. According to state-by-state statistics released by the U.S. Bureau of Labor Statistics, only New York and California beat out the 16,700 jobs Texas added. Overall, 31 states saw an increase in jobs last month while 17 states, plus Washington D.C., saw a decrease. ...

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To sell or not to sell? TECO isn’t sure

As a rule of thumb, TECO Energy avoids confirming or denying speculations surrounding their business. The company, however, broke its silence last week after several news reports hypothesized on the rumored sale of the company. TECO announced Thursday that Morgan Stanley has assisted the company in its exploration of “strategic alternatives,” but has not yet determined whether or not to ...

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