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Top News & Analysis New Mexico

  • Feb 9- Wind energy has surpassed hydropower as the biggest source of renewable electricity in the United States following the sector's second-biggest quarter ever for new installations, a wind industry trade group said on Thursday. Wind installations totaled 82,183 megawatts at the end of 2016, enough to power 24 million homes, the American Wind Energy...

  • Workers connect drill bits and drill collars, used to extract natural petroleum, on Endeavor Energy Resources' Big Dog Drilling Rig 22 in the Permian basin outside of Midland, Texas.

    The cost of drilling and fracking wells in the Permian Basin is quickly rising — that's if you can book the crews to do the work.

  • In papers filed in federal court in Albuquerque, New Mexico, the SEC said it would no longer pursue its civil case against former Thornburg CEO Larry Goldstone and former CFO Clarence Simmons, which had been set for a re-trial on Feb. 21. The SEC later in September dropped three remaining claims and said it would no longer pursue what the defense called its central...

  • NEW YORK, Feb 3- The U.S. Securities and Exchange Commission on Friday dropped its case against two former executives at now-defunct home lender Thornburg Mortgage Inc in a lawsuit brought in the wake of the 2008 financial crisis.

  • A falcon flies over the Chisos Basin in the Big Bend National Park in West Texas.

    To build the controversial wall, the federal government would need to seize land from Texas residents, Vox reports.

  • Jan 27- U.S. energy companies this week added oil rigs for a 12th week in the last 13, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut production that has kept crude prices over $50 a barrel since early December. U.S. crude collapsed from over $107 a barrel in June 2014 to near $26 in February 2016. U.S. crude futures were trading...

  • WASHINGTON, Jan 27- As some Native American tribes renew their push for more control over the natural resources on their lands, they will also urge Congress and President Donald Trump to prohibit state taxation of energy and resource development on reservations. "Dual taxation is an impediment to development," MHA Nation Chairman Mark Fox said in an interview...

  • WASHINGTON, Jan 27- As some Native American tribes renew their push for more control over the natural resources on their lands, they will also urge Congress and President Donald Trump to prohibit state taxation of energy and resource development on reservations. "Dual taxation is an impediment to development," MHA Nation Chairman Mark Fox said in an interview...

  • NEW YORK, Jan 24- Some prominent U.S. fund managers are betting that former President Barack Obama's signature healthcare law will not undergo the widespread changes that President Donald Trump promised on the campaign trail. "They may do enough to try to rebrand it as Trumpcare, but I just don't think it will be that dramatically different from what we have today,"...

  • CHICAGO, Jan 23- Indiana and several environmental groups are objecting to a plan by Peabody Energy Corp to exit its $8 billion Chapter 11 bankruptcy, citing concerns over how the company will cover about $1 billion in future mine cleanup costs. Indiana and the environmental groups objected to Peabody's failure to disclose how it will finance the future...

  • Jan 20- U.S. energy companies this week added the most oil rigs in nearly four years, extending an eight-month recovery as drillers take advantage of a deal by OPEC to cut supplies that has boosted prices over $50 a barrel since early December. Almost two-thirds of the rigs added since May were in the Permian basin, the nation's biggest shale oil formation located...

  • **Exxon Mobil Corp said it will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States. **Germany's Lufthansa is not in talks about Etihad Airways taking a stake in the German airline, two sources familiar with the matter said on Tuesday, denying an Italian newspaper report that said it...

  • NEW YORK, Jan 17- U.S. shale production is set to snap a three-month decline in February, the U.S. government said on Tuesday, as energy firms boost drilling activity with crude prices hovering near 18- month highs. In the Permian Basin in West Texas and eastern New Mexico, output is set to rise by 53,000 bpd to 2.180 million bpd, the data showed. U.S. crude futures were...

  • NEW YORK, Jan 17- U.S. shale oil production is expected to rise by 41,000 barrels per day in February to 4.748 million bpd as energy firms boost drilling with crude prices near 18- month highs, according to data from the U.S. Energy Information Administration on Tuesday. Permian output in West Texas and eastern New Mexico is set to rise by 53,000 bpd to 2.180 million...

  • A worker prepares to lift drills by pulley to the main floor of a drilling rig in the Permian basin.

    The deal is the largest oil and gas acquisition in the United States since oil prices crashed in November 2014.

  • MIDLAND, Texas, Jan 17- Exxon Mobil Corp said on Tuesday it will pay up to $6.6 billion to double its holdings in the Permian Basin of west Texas and New Mexico, the largest oil field in the United States. Exxon is exchanging an initial $5.6 billion in stock for leases covering roughly 275,000 acres from the Bass family of Fort Worth, Texas. Most of the wells to be drilled...

  • Jan 17- Exxon Mobil Corp said on Tuesday it would buy companies owned by the Bass family of Texas in a deal worth up to $6.6 billion that would boost it presence in the Permian Basin, one of the country's most cost-effective oil fields. An uptick in oil prices has been encouraging healthier energy companies to buy up assets- especially in the Permian Basin, which...

  • LONDON, Jan 17- U.S. petroleum producers are looking forward to better times in 2017 as the industry has passed the low-point in the cycle and embarked on the road to renewed expansion. U.S. oil output was essentially flat between July and October 2016, after sliding between April 2015 and June 2016. More than half of all the new rigs have been added in the Permian...

  • The court will hear an appeal filed by investment adviser Charles Kokesh, who the SEC sued in 2009 for allegedly misappropriating money from several business-development company funds to pay for expenses such as salaries and bonuses. The case hinges on whether the SEC has time limits on seeking disgorgement of ill-gotten gains, a remedy the regulator often...

  • The court will hear an appeal filed by investment adviser Charles Kokesh, who was sued by the SEC in 2009 for allegedly misappropriating money from several business-development company funds to pay for expenses such as salaries and bonuses. The SEC currently faces a five-year statute of limitations on collecting civil penalties, a time restriction that the...