New Mexico’s oil and gas industry is expected to keep growing at a record pace, resulting in more revenue for the state and billions of dollars in new infrastructure investments to get the commodities to market, according to a study commissioned by industry trade groups.
The predictions were outlined in a report presented to state lawmakers during a meeting Tuesday in Roswell. The report, compiled by a national consulting group, was commissioned by the New Mexico Oil and Gas Association and the American Petroleum Institute.
Analysts estimate it will take $174 billion of new infrastructure to keep pace with expected growth through 2030. That would include investments by the industry in new pipelines, access roads, well pad construction, processing plants and refineries.