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Map of the Mid-continent oil field. The Mid-continent oil field is a broad area containing hundreds of oil fields in the U.S. states of Arkansas, Kansas, Louisiana, New Mexico, Oklahoma and Texas. The area, which consists of various geological strata and diverse trap types, was discovered and exploited during the first half of the 20th century.
Significant discoveries included the Embrar oil field (1942), the TXL oil field (1944), the Dollarhide oil field (1945), and the Block 31 oil field (1945). [35]: 200–201, 230–231 [36] In 1966, the production of the Permian Basin measured 600 million barrels of oil, along with 2.3 trillion cubic ft of gas, which totaled $2 billion.
The basin has produced from over 300 oil fields and nearly 40,000 wells, most of which are sourced from Cretaceous-aged rocks. Furthermore, 90% of the wells have been drilled in the state of New Mexico. As of 2009, cumulative production reached 42.6 trillion cubic feet of gas and 381 million barrels of oil. [2] [3] [7]
Jun. 5—It's no secret that oil and gas wells abound in New Mexico's San Juan and Permian basins. A lesser-known fact is the number of residents who live close enough to fossil fuel operations to ...
In 2023, New Mexico was producing about 1.8 million barrels per day (657 million barrels that year) of crude oil, 10 times more than it was producing in 2010, thanks to investments in new fracking ...
NEW MEXICO (KRQE) – The Permian Basin, the largest oil reserve in the world located in western Texas and southeastern New Mexico, was once also known for its dark skies.But over the years as oil ...
The Delaware Basin is a geologic depositional and structural basin in West Texas and southern New Mexico, famous for holding large oil fields and for a fossilized reef exposed at the surface. Guadalupe Mountains National Park and Carlsbad Caverns National Park protect part of the basin.
The New Mexico gross domestic product in 2023 totaled about $130 billion. About one-fifth — $26.1 billion — was generated by oil and gas. According to the New Mexico Tax Research Institute ...