Starr Spencer

New Mexico's latest monthly state oil and gas lease sale attracted $5.5 million in high bids Nov. 19 -- lower than the last few sales but higher than others earlier in 2024, post-auction records released by the State Land Office showed. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.

Make Decisions With Conviction For full access to real-time updates, breaking news, analysis, pricing and data visualization subscribe today. Crude Oil | Upstream Crude production in the Permian Basin is growing, but pipeline capacity growth out of the West Texas/New Mexico play is lagging. With Permian crude output expected to reach roughly 7 million b/d by December 2025, some industry watchers are concerned that tight exit capacity could lead to wider crude price discounts for Midland WTI.

While the renewable energy market continues to grow amid what is thought to ultimately be a transition away from oil and natural gas, demand for energy continues to mount and should increase by double-digits between now and 2040, Baker Hughes CEO Lorenzo Simonelli said Oct. 23. Not registered? Receive daily email alerts, subscriber notes & personalize your experience.