NEW MEXICO OIL RIGS HAVE BEEN VERY BUSY LATELY. NEW MEXICO PRODUCED 588-THOUSAND BARRELS OF OIL PER DAY IN FEBRUARY…AND THAT WAS A RECORD BREAKER. THE NUMBERS COME FROM THE U.S. ENERGY INFORMATION ADMINISTRATION, WHICH SAYS NEW MEXICO HAS NOW DOUBLED ITS OIL PRODUCTION OVER THE PAST FIVE YEARS.
THE STATE ENERGY, MINERALS, AND NATURAL RESOURCES DEPARTMENT SAYS WHEN PRICES COLLAPSED IN 2016, THE NUMBER OF RIGS OPERATING IN NEW MEXICO FELL TO 13. NOW, 87 OIL RIGS ARE OPERATING ACROSS THE STATE.
