Post Tagged with: "density"

Rule Change Would Double Well Density in San Juan Basin for Hilcorp

Rule Change Would Double Well Density in San Juan Basin for Hilcorp

From the Associated Press/US News ALBUQUERQUE, N.M. (AP) — A Houston-based oil and gas company wants New Mexico regulators to ease restrictions on well locations in two counties within one of the oldest producing basins in the U.S., saying the change will result in the capture of more natural gas. The request involving San Juan and Rio Arriba counties comes as an oil and gas boom has helped to refuel state coffers. That includes a recent record-breaking lease sale on the other end of the state near the Texas state line that promises nearly a half-billion dollars more in revenues. But environmentalists and landowners are concerned about increasing well densities in the northwest as developers look to tap more reserves in the San Juan Basin. The request by Hilcorp Energy Co. is set to be considered Thursday by the Oil Conservation Commission. Critics want regulators to put off a decision until a thorough[Read More…]

September 11, 2018 - 12:20 pm Closing Bell Story, Exploration and Production (E&P), Regulatory