Rep. Xochitl Torres Small (D-NM-2) met with PESA Member Company Basic Energy Services on November 26 in Hobbs, NM. The discussion focused on the basics of drilling a well and how the service companies help operators in this process.
She was also shown videos outlining drilling methods and what equipment and services are utilized from spud to remediation. Brandon McGuire, Vice President, Permian Business Unit, Basic Energy Services, and Steve Newman, Director of Operations – Delaware Basin, Basic Energy Services participated in the meeting. Missi Currier, President & CEO, Economic Development Corporation of Lea County, also contributed to the discussion sharing economic impact information for not only Lea County, but also the entire state of New Mexico.
PESA members first met the Congresswoman, who was elected in 2018, during the Association’s annual Washington DC Fly-In in February. Her district extends south from I-40 to the border and includes all production currently underway in the Delaware and Permian Basins of New Mexico.
Oil production continues to flow in New Mexico with an anticipated 300 million barrels produced by the end of 2019. That would be the third year in a row that the state has had record production levels. During the first eight months of the year, production was up in New Mexico by 36% over the same period in 2018 which was itself a record year. In the last two years, nearly $1 billion in budget surpluses have been seen in New Mexico, which is unprecedented revenue for the state.
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