The Albuquerque Journal:
Sunday, August 10, 2008
Journal Staff Writer
"Opponents of opening new areas offshore and in Alaska to oil drilling frequently cite the fact that millions of acres already leased by oil and gas companies sit idle.
Oil companies, they say, are hoarding and should drill these leases before potential new fields are opened.
But, in New Mexico, more than three-fourths of leased federal acres are delivering natural gas or crude oil.
Some of the leases that aren't producing simply came up dry, and some others have been tied up by environmental and conservation groups opposed to drilling. Those include Otero Mesa in southern New Mexico and the Galisteo Basin north of Albuquerque and near Santa Fe.
The state's Oil Conservation Division, which regulates groundwater protection on state and federal land leased to oil and gas companies, has also blocked some new exploration on leases in Rio Arriba County.
Big picture numbers: The Bureau of Land Management has leased 5.4 million acres of federal land to oil and gas producers in New Mexico. Of that, about 3.9 million acres are in production, according to Tony Herrell, the BLM's state deputy director for minerals.
Herrell said leases where exploration efforts didn't find oil or gas will likely expire at the end of the 10-year federal limit." Article>>>>
Oil companies, they say, are hoarding and should drill these leases before potential new fields are opened.
But, in New Mexico, more than three-fourths of leased federal acres are delivering natural gas or crude oil.
Some of the leases that aren't producing simply came up dry, and some others have been tied up by environmental and conservation groups opposed to drilling. Those include Otero Mesa in southern New Mexico and the Galisteo Basin north of Albuquerque and near Santa Fe.
The state's Oil Conservation Division, which regulates groundwater protection on state and federal land leased to oil and gas companies, has also blocked some new exploration on leases in Rio Arriba County.
Big picture numbers: The Bureau of Land Management has leased 5.4 million acres of federal land to oil and gas producers in New Mexico. Of that, about 3.9 million acres are in production, according to Tony Herrell, the BLM's state deputy director for minerals.
Herrell said leases where exploration efforts didn't find oil or gas will likely expire at the end of the 10-year federal limit." Article>>>>
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