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New Mexico's Oil & Gas Industry Faces Opposition With Potential Ban On Freshwater Use | Opportune LLP


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It appears that New Mexico’s state government is continuing to move in the direction of environmentalists and away from oil and gas operators. However, New Mexico enjoys significant revenue from the production of oil and gas, so it’s debatable that actions to slow production will have widespread support.
In December 2020, New Mexico Commissioner of Public Lands, Stephanie Garcia Richard, announced plans to halt the commercial sale of fresh water from state trust lands for oil and gas development. In a letter to oil and gas operators, the Commissioner informed companies that hold easements and grant access to state trust land to pump fresh water for sale to the oil and gas industry, their easements/permits won’t be renewed, nor would any new permits be granted. ....

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Oil and gas market decimated by COVID-19 in 2020, production poised for recovery next year


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New Mexico’s fossil fuel market finished 2020 in recovery from the COVID-19 pandemic and historic losses in the value of oil and gas and production levels throughout the state.
After April’s market crash to as low as -$40 per barrel, the lowest price in history, and a dramatic drop in New Mexico’s rig count by more than 60 percent in the months after the pandemic struck the state in March, the late fall and early winter saw some slight rebound.
But the market was still far off from the record-setting, pre-pandemic growth.
More: New Mexico oil and gas industry condemns Deb Haaland nomination as secretary of interior ....

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Supreme Court sides with NM in Pecos River dispute with Texas


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The U.S. Supreme Court on Monday ruled in favor of New Mexico in a dispute with Texas over Pecos River water. The Pecos flows through eastern New Mexico, including Carlsbad, above, into Texas. (Eddie Moore/Albuquerque Journal)
Copyright © 2020 Albuquerque Journal
Not so fast, Texas.
The U.S. Supreme Court handed New Mexico a victory Monday morning in a Pecos River water dispute with Texas.
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The court’s opinion, delivered by Justice Brett Kavanaugh, says the court-appointed Pecos river master was correct in giving New Mexico delivery credit for water that had evaporated from Brantley Reservoir. The court denied Texas’ motion to review the river master’s decision. ....

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