san juan basin oil and gas news
The region's economy has already been hit hard in recent years—by the retirement of units at the Four Corners Power Plant and the San Juan Generating Station, decreased property taxes and job losses in the natural gas industry over the course of roughly 10 years.
As more residents learn about the risks from fracking – from the air pollution to the disturbances to wildlife and Native artefacts – opposition to expanding drilling has grown, Atencio said, and the oil and gas checks aren’t as important as they once seemed. Today, the US Bureau of Land Management is considering a plan, known as the Mancos-Gallup Amendment, which could lease land in the region for some 3,000 new wells – many of which would be for fracking oil and gas.
The newly reconfigured three-member commission reflects the change in administrations to new Democrat Gov.
That ship has sailed,” he said. Despite forecasts showing little chance for recovery anytime soon, the BLM will "continue to lease as industry submits notifications of interest for certain oil and gas parcels," Jillian Aragon, spokeswoman for the BLM in Farmington, explained. There’s no snakes in February,” he said. Get up-to-the-minute news sent straight to your device. Operators in the San Juan Basin, which is primarily a natural gas field, packed up and left.
Ten years ago, 10 property owners were responsible for almost half the county's entire property tax revenue. firstname.lastname@example.org But there's no escaping the hand of industry: About 122 wells sit on and adjacent to their ranch. NGI All News Access. Just four years earlier, overproduction and falling prices had sent workers packing from the San Juan Basin's natural gas fields.
And he worries what might happen to them in the coming years as the industry moves on.
Hilcorp filed a statement at the end of last year, urging the OCC to deny the request for rehearing by the State Land Office, which appoints one of the three commissioners.
With more than 20,000 wells in the San Juan Basin, these numbers might seem small. Expansion of drilling in New Mexico would threaten sacred artefacts and bring public health risks to area still reeling from Covid-19 Merrion said he’s even looking to acquire cheaply priced oil and gas assets, hoping to start producing in those areas as prices rise. “And unfortunately, we can’t turn that off as fast as the crash happened.”.
“(Skilled and specialized workers) are here, they’re trained, they’re experienced,” he said. In 2016, ConocoPhillips sold its stake in the region, which consisted of about 10,000 wells, contributing nearly 75 percent of Colorado’s entire natural gas production, for $3 billion to Hilcorp San Juan LP.Two years later, Williams Partners LP sold its stake in the San Juan Basin, which spans La Plata County and northern New Mexico, to Harvest Midstream for $1.123 billion.And perhaps the biggest shift came in August 2018 when B…
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