Aug. 22–Oil and gas officials and some local leaders are hoping to make their case for the continued expansion of extraction activities in Carlsbad.
The 2018 Carlsbad Mayor’s Energy Summit will feature speakers from major oil and gas companies, along with elected officials to discuss the ongoing successes and challenges of the industry.
The event is themed “Crossing the Delaware,” named for the Delaware Basin, an underground shale in southeast New Mexico part of the larger Permian Basin which extends into West Texas.
More: New Mexico reaches record-breaking rig count, as Permian continues to grow
Carlsbad Mayor Dale Janway said the annual summit, held this year on Sept. 6 at the Walter Gerrells Performing Arts Center, could be the biggest yet.
He said he looked forward to the renowned steak dinners served every year.
“We expect this to be the best summit yet at the civic center,” he said. “We’ll have our famous steak lunches and an all-star list of speakers who are extremely knowledgeable about this industry.”
More: Rescinded BLM fracking rule could have cost industry millions
Extraction around Carlsbad and southern Eddy County saw significant growth in the last year, as the Permian continued to attract companies looking for and pumping up crude oil and natural gas.
Janway said the summit serves as a chance for local officials to meet with industry leaders in hopes of charting the best path to manage the growth.
“The energy industry in Carlsbad and the surrounding area is growing faster than it ever has before, and the information that comes out of this summit will help all of us make sure we develop intelligently and responsibly, so we very much appreciate our industry partners for working with us,” he said.
The State of New Mexico announced Tuesday that it expected to earn about $1.2 billion in revenue during the current fiscal year that started on July 1.
More: Carlsbad residents, oil and gas officials seek solutions to extraction fears
Ryan Flynn, executive director of the New Mexico Oil and Gas Association said oil and gas was a “major” driver in creating revenue for the state.
New Mexico reached 104 rigs this year, breaking the all-time record set in 2014.
The growth also brought the state to third in the nation for oil production, with $13 billion in investments announced since the beginning of 2017, read a NMOGA news release.
More: BLM delays sale of land for oil drilling near Carlsbad Caverns, amid protests
“Today’s announcement further demonstrates our ability to safely produce oil and natural gas while creating jobs and providing critical funds for the State,” Flynn said. “We are proud to be the economic driver in New Mexico and continue our efforts to build a stronger economy and brighter future.”
With an election for a new governor, and multiple legislative seats up for election, Flynn said it is important for incoming lawmakers to embrace policy that encourages continued growth in the industry.
“As we look toward the upcoming election, the next governor and Legislature have unprecedented opportunities to accelerate this growth by continuing to support the policies that are creating jobs, funding our schools and making New Mexico energy independent,” he said.
More: Oil production flourishes in Delaware Basin, supports city projects
Flynn is schedule to speak at the summit.
The summit is planned for 8 am. to 1 p.m., followed by a forum of elected officials in contested races this year.
Each candidate will be given seven minutes to explain their energy policy.
The Carlsbad Department of Development is also hosting a job fair the same day from noon to 6 p.m., at the Eddy County Fire Services Building on Commerce Drive.
The events are free and open to the public.
Adrian Hedden can be reached at 575-628-5516, email@example.com or @AdrianHedden on Twitter.
(c)2018 the Carlsbad Current-Argus (Carlsbad, N.M.)
Visit the Carlsbad Current-Argus (Carlsbad, N.M.) at www.currentargus.com
Distributed by Tribune Content Agency, LLC.