11 FEBRUARY 2025 WorldWide Drilling Resource® Energy Production is Growing in New Mexico Adapted from Information by Chevron While Texas is often recognized as the energy capitol of the world, it’s important to note other states like New Mexico also contribute significantly to U.S. energy independence. The Permian Basin, which covers part of West Texas and New Mexico, is one of the most productive gas and oil regions, accounting for nearly 15% of its natural gas and 40% of the country’s oil production. “We see great potential there,” said Chevron’s Duncan Healey, the company’s New Mexico asset manager. “Several factors have made it the place to be.” Thanks to its remarkable geology and distinctive rock formations, the Basin in New Mexico is able to produce gas and oil from multiple layers of rock, making it one of the most prolific fields in the world and greatly increasing its natural resource potential. “The rock is thick and deep, which means it is under high pressure and can force the oil and gas out easier,” Healey explained. “At the end of the day, we expect to get more out of the ground than we could in other areas of the Permian.” Chevron’s approach to developing the New Mexico side of the Basin prioritizes safety and environmental considerations, such as utilizing electric compressors instead of natural gas fuel compressors where possible. Additionally, Chevron has implemented measures to reduce the carbon emission intensity associated with its hydraulic fracturing equipment. The company is also leveraging advanced technologies and predictive analytics to enhance well performance and inform exploration decisions, resulting in increased efficiency and production in the Basin. Chevron’s goal is to reach one million barrels of oil equivalent per day in the Basin by 2025, concentrating on the areas with the highest production potential. “It’s about delivering the affordable, reliable, and lower carbon intensity energy the world relies on,” he said. “I feel proud about what we’re doing there and how we’re doing it.” Inspecting instruments at a central gathering facility near Pecos, Texas, in the Permian Basin. G&O
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