New Mexico reported record production of crude oil and natural gas last year, but the rate of year-to-year growth declined. The state’s Oil Conservation Division said New Mexico produced 367.8 million barrels of oil in 2020 – an increase of 10.8 percent from output of 331.8 million in 2019. The rate of increase from 2018 to 2019 was 33.2 percent (248.9 million barrels in 2018). Natural gas production in 2020 in New Mexico was up 7 percent to 1.9 trillion cubic feet compared to an increase of 19 percent from 2018 to 2019.
New Mexico Oil and Gas Association said the industry produced $2.8 billion in revenue in 2020, including $1.4 billion for public education. The revenue total was second to $3.1 billion in 2019. Robert McEntyre of NMOGA said, “New Mexico was the place to continue to produce despite the market’s declines. Producers are concentrating their investments and activities in the areas that are most prolific, and for many that meant New Mexico and the Permian Basin were top on the list.”