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NM Oil Production Jumps 46 Percent

Thu, 05/23/2013 - 10:19am

ALBUQUERQUE, N.M. (AP) — Oil production in New Mexico has increased by nearly 50 percent over the last three years, making it one of five western states that have helped boost national production over the last three years.

Statistics from the U.S. Energy Information Administration show onshore oil production increased nationally by more than 2 million barrels a day — or nearly two-thirds — between February 2010 and February 2013.

North Dakota and Texas have been the driving forces, but New Mexico along with Oklahoma, Wyoming, Colorado and Utah account for 15 percent of the growth.

A spokesman for the New Mexico Oil and Gas Association, Wally Drangmeister, says southeastern New Mexico's stretch of the Permian Basin has been booming. He says recent advancements in drilling techniques have helped developers pull more oil from their wells.

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