LOCAL INVESTMENT

Our drilling and development in New Mexico creates business for others. We have hired more than 200 vendors and service providers in New Mexico.

Our 2016 capital program includes between $270-$300 million for developing new oil wells in the San Juan Basin and the Permian Basin.

These investments will help further develop our Gallup oil discovery from 2013 and our newly acquired (August 2015) properties in the state’s Permian Basin.

Prior to our recent acquisition, private landowners received $10.1 million in royalties for our San Juan Basin oil and gas production in 2015.

Additionally, we paid $35.8 million in royalties to public interests and $21.6 million in severance and ad valorem taxes in 2015 for our San Juan Basin oil and gas production.

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