Local Rig Count Rising

According to a story in the Farmington Daily Times, “A recent increase in drilling rigs in the San Juan Basin has some wondering if the downturn in oil and gas production might be starting to turn around.”

The story quotes Wally Drangmeister, the spokesman for the New Mexico Oil and Gas Association, who said “that oil and gas companies in northwest New Mexico have demonstrated incredible resilience and innovation in dealing with challenges of increased regulations and low commodity prices.”

You can see the full story by Leigh Black Irvin here.

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