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Devon Energy Ranked Number 2 in New Mexico Oil Production

 

A report by the New Mexico Oil and Gas Association shows Oklahoma City-based Devon Energy is the state’s second largest oil producer.

The report showed that Devon Energy’s 2016 oil production in New Mexico totaled 16,677,259 barrels of oil out of the state’s total oil production of 136 million barrels of oil. The company tied with Concho Resources of Midland, Texas. The 136 million barrels of oil represented a 4 percent increase from 2015.

ConocoPhillips was the number one producer.

The Association indicated the oil and natural gas industry contributed $11.3 billion to the state’s economy and also provided 100,000 jobs.

But 2016 production declined from the 143 million barrels of crude oil produced in 2015.