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NEW PLAN TO FACILITATE OIL AND GAS DEVELOPMENT IN MEXICO

27 Oct 2015

State officials in New Mexico are laying the groundwork for a rapid comeback when markets improve.

The new plan calls for infrastructure development in the state’s Permian Basin in the southeast and the San Juan Basin in the northwest. That includes road improvements, new pipelines to transport crude and natural gas, and a 100-mile rail line running from Interstate 40 in Gallup to Farmington.

The project will take 5 years to complete, financed primarily by private investors.

The oil and gas industry provides about a third of the state’s annual revenue.