Within the last month, the New Mexico State Land Office (SLO) issued a temporary shut-in order for all oil wells producing on state leases, citing the drastically reduced oil prices. These wells include those that are part of communitization agreements.
OKLAHOMA CITY, November 20, 2019. Oseberg, an Oklahoma City-based leading upstream oil & gas data transformation technology company, announced the release of a ground-breaking new market intelligence product for the New Mexico oil & gas industry. For the first time, operators now have direct access from within one application to multiple sources of New Mexico public oil & gas information including Federal BLM, State Land Office, Oil Conservation Division (OCD) and county courthouse records (from the 4 key Delaware/Permian Basin counties, Chavez, Eddy, Lea & Roosevelt).
By: Cris Byers, Product Manager, oseberg, Oklahoma City, OK
The New Mexico oil and gas regulatory environment is a convoluted place, and the details of land and mineral ownership are no exception. The federal government, through the Bureau of Land Management (BLM), manages almost 250 million acres, so chances are you’ll be dealing with the BLM if you are in the oil & gas business in New Mexico. The state gets some action too; the Oil Conservation Division (OCD) gets their share of red tape also. And don’t forget about private ownership! If you’re in the New Mexico market, or plan to be, you’ll need to know how to navigate this 3-party system. Whether you’re new to the state or a seasoned pro, we hope to give you a better understanding of the types of ownership in New Mexico and the unique rules and regulations you may encounter with each.
Are you looking for Permian Basin “needles in a haystack” acreage to acquire and develop or flip? Or are you trying to defend against such annoying intrusions? Either way you should find this information exciting: at oseberg, we can now find prospective Pughed Out (“surface” Pugh) acreage across the entire TX Permian in seconds on a current, rolling time basis.