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Thoughts from ConocoPhillips count for New Mexico. That’s because CP accounts for around 40 percent of the gas produced in the San Juan Basin and has at least two locations in Farmington with three nice looking offices and sundry outbuildings.
A CP senior economist, Helen Currie, brought her Ph.D. to Farmington July 9 to outline the outlook for oil and gas markets. Her audience was 25 or so legislators attending a joint meeting of the Legislative Finance Committee and the Revenue Stabilization and Tax Policy committee.
A national overlay is an oil boom in New Mexico. Our oil production is way up — Currie expects maybe another 30 percent growth by 2020 — Currie just didn’t call it a boom.
In the state briefs section July 10, USA Today said, “Federal statistics show that (New Mexico) is in the midst of an oil boom. The U.S. Energy Information Administration said New Mexico, North Dakota and Wyoming were the largest crude oil producers on federal and tribal land during the 2013 fiscal year.”
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