Top News & Analysis New Mexico

  • Dec 6- Halliburton Co is laying off employees at its Bakersfield plant in California in its latest round of job cuts this year, as the U.S. oilfield services firm struggles with falling profits amid slowing oil and gas activity. Earlier in October, the company cut 650 jobs across Colorado, Wyoming, New Mexico and North Dakota. In 2019, more than 50 frac spreads- or a set...

  • The insurance industry is retreating from at-risk areas after paying nearly $25 billion in damage claims for the record fire years, according to California Department of Insurance data. At the same time, California's homeowner insurance premiums remain below the national average, ranked 32nd in state terms in 2016, according to the National Association of...

  • Customers pay at a cashier station in a JCpenney Store at the Newport Mall in Jersey City, New Jersey.

    When it comes to managing debt, New Mexicans are taking the most time to squash the balances on their credit cards. How much they've borrowed is only part of the story.

  • HOUSTON, Nov 20- The premier of Alberta, Canada's top oil-producing province, said Wednesday that the end of a government-imposed curtailment on oil production could come earlier than its December 2020 sunset date. Alberta introduced mandatory oil production curbs on Jan. 1, 2019, to reduce a crude glut that depressed regional prices. Growth in demand for...

  • WASHINGTON, Nov 19- The U.S. National Transportation Safety Board on Tuesday called on Boeing Co to redesign the fan cowl structure on all 737 NG planes and retrofit existing planes after an April 2019 incident in which a woman was killed on a Southwest Airlines plane due to an engine failure caused by a broken fan blade. The board said the U.S. Federal Aviation...

  • WASHINGTON, Nov 19- The U.S. National Transportation Safety Board on Tuesday called on Boeing Co to redesign the fan cowl structure on all 737 NG planes and retrofit existing planes after an April 2019 incident in which a woman was killed on a Southwest Airlines plane after an engine failure caused by a fan blade. The board said the U.S. Federal Aviation...

  • WASHINGTON, Nov 12- About 60% of federal oil and gas drilling leases offered since 2017 are located in areas that are at risk of shortages and droughts, according to a report released on Tuesday. The Center For American Progress report analyzed leasing data from the Interior Department and a water risk map from the World Resources Institute.

  • HOUSTON, Nov 6- Shares of Diamondback Energy Inc plummeted 13% on Wednesday after the company reported a dip in third-quarter oil output, raising fresh concerns about well spacing in the top U.S. shale basin. "You had those two issues happen at the same time, which were both unusual," said Leo Mariani, analyst with KeyBanc Capital Markets. "These are operational...

  • HOUSTON, Nov 6- Shares of Diamondback Energy Inc plummeted 13% on Wednesday after the oil and gas firm disclosed a dip in third-quarter oil output, raising fresh concerns about well spacing in the top U.S. shale basin. "These are operational challenges, not reservoir problems," said Travis Stice, chief executive of Diamondback, who sought during a call Wednesday...

  • HOUSTON, Nov 5- The chief executive of Pioneer Natural Resources, Scott Sheffield, on Tuesday called on producers in the top U.S. shale field to limit natural gas flaring and monitor for methane leaks. Companies are targeting oil in the fast-growing Permian Basin field, but pipeline construction has lagged, leaving natural gas as a byproduct to be burned or vented.

  • Nov 5- Pioneer Natural Resources Chief Executive Scott Sheffield on Tuesday called on producers in the top U.S. shale field to limit natural gas flaring and monitor for methane leaks. "I think that's something that should be adopted by all producers in the Permian Basin." Gas flaring and venting in the Permian Basin in Texas and New Mexico reached a new high of 750...

  • Boeing's Starliner spacecraft capsule fired its engines at a launchpad in New Mexico in a key test for astronaut safety. The test showcased how launch abort functions would work in case of an emergency, and this includes thrusters, parachutes, airbags and an anthropomorphic test dummy, which is covered in sensors, on board. It's part of NASA's Commercial Crew Program, through a public-private partnership, to launch astronauts on American rockets from American soil for the first time since 2011.

  • Production from Bakken rose 38% to 163,000 barrels of oil equivalent per day in the quarter, helping net production, excluding Libya, rise about 4% to 290,000 boe/d. Oil from seven big shale formations, particularly the Permian basin of Texas and New Mexico and the Bakken in North Dakota, have helped the United States become the biggest crude oil producer in the...

  • Oct 28- U.S. oil and gas producer Concho Resources Inc on Tuesday missed Wall Street estimates for adjusted profit for the fourth straight quarter, dragged down by natural gas and crude prices. Concho said in early September it would sell a portion of its New Mexico assets for $925 million to KKR-backed Spur Energy Partners LLC and planned to use the money to lower...

  • WASHINGTON, Oct 29- The Trump administration's rollback of U.S. clean car standards is "commercially suicidal" and will cost consumers billions of dollars, former California Governor Jerry Brown will tell Congress on Tuesday. Over the last few weeks, the Trump administration has gone after California on several fronts. Those states, including New York, New...

  • Oct 24- An increase in oil and gas production on U.S. public lands drove a 30% increase in federal energy and minerals revenue disbursements in fiscal year 2019, to $11.69 billion, the U.S. Interior Department said on Thursday. The Office of Natural Resources Revenue disbursed $2.44 billion to 35 states, with New Mexico receiving nearly half of the total at $1.17...

  • WASHINGTON, Oct 23- The United States on Wednesday sued California for entering a climate agreement with Canada's Quebec province, saying the state had no right to conduct foreign policy, in the latest feud between the Trump administration and the state. "The state of California has veered outside of its proper constitutional lane to enter into an...

  • NEW YORK, Oct 22- Monthly premiums for an average 2020 Obamacare health insurance plan will fall about 4 percent from this year, according to a report released Tuesday by the Trump administration, which has tried to dismantle the program. The Trump administration has cut back on funding for the health insurance program, which was created by President Barack...

  • Oct 21- Halliburton Co reported a bigger-than-expected 10% drop in quarterly revenue on Monday, as the oilfield services provider battled lower demand from shale oil producers in North America, its biggest market. Revenue from North America, which accounts for more than half of the company's total, fell 21% in the third quarter, primarily due to lower pressure...

  • Excluding the charge, the company's profit beat Wall Street estimates as higher international drilling activity boosted demand for its equipment and services and helped counter weakness in North America. A cut in spending by oil and gas producers has hit North America pressure pumping business the hardest, forcing rival Halliburton Co to cut 650 jobs...