SOME GOOD NEWS FOR NEW MEXICO’S SLUMPING BUDGET. EXXON MOBIL HAS MOVED INTO THE STATE. IT’S PAYING 5-POINT-6 BILLION DOLLARS TO PURCHASE 275-THOUSAND ACRES OF LEASES IN NEW MEXICO’S PERMIAN BASIN. THAT SHOULD MEAN MORE DRILLING … MORE PRODUCTION … AND MORE REVENUE TO CHANNEL INTO THE STATE BUDGET.
THIS IS THE BIGGEST OIL AND GAS ACQUISITION IN THE U-S SINCE NOVEMBER 2014 WHEN CRUDE PRICES CRASHED. IT’S ALSO A MAJOR MOVE BY EXXON MOBIL THAT’S MOSTLY OPERATED OUTSIDE THE U-S.
