Small town becomes booming petroleum powerhouse
Wednesday, July 24, 2019
An oil boom in southeastern New Mexico is bringing thousands of people to Lea and Eddy Counties, causing the city of Carlsbad's population to more than double in less than a decade.
New data from the US Geological Survey shows billions of barrels-worth of oil and natural gas underground in southeastern New Mexico. The area is part of the Permian Basin, an oil-rich part of west Texas and southeastern New Mexico spanning nearly 80,000 square miles. Improved technologies in drilling and fracturing allowed the USGS to discover how plentiful New Mexico's oil supply is.
"The Permian Basin of which about half is in new Mexico is now considered to be the most active oil field in the globe," said Stephanie Garcia Richard, the state land commissioner.