New Mexico Oil And Gas Boom?
The oil and gas industry is getting excited about a potential boom in northwestern New Mexico. Preliminary results from exploratory wells drilled in the Mancos shale formation in the San Juan Basin are showing solid commercial potential for production.
Industry executives discussed the possibilities while in Farmington this week for a conference.
Ken McQueen of Oklahoma-based WPX Energy Inc. says two wells the company drilled in a dry natural gas section of the Mancos are some of its best wells anywhere. Drilled in 2010, the wells have produced 2 billion cubic feet of gas so far.
Energy development companies are also hopeful about the prospects for liquid natural gas and oil in other sections of the Mancos formation. They say modern drilling techniques are allowing the resources to be tapped.
Information from: Albuquerque Journal, http://www.abqjournal.com
Copyright 2013 The Associated Press.