In late June, Coterra Energy was honored to sponsor, attend, and participate in the EnergyPlex Conference in Hobbs, New Mexico. Hosted by the Economic Development Corporation of Lea County, the conference served as a celebration of the massive accomplishments in the Permian Basin and Lea County.
The conference began with an optimistic keynote from Garrett Golding, Senior Business Economist at the Federal Reserve Bank of Dallas. Golding emphasized the critical role of the Permian Basin in global oil markets, stating, “The world oil markets depend on what happens in New Mexico.” This positive outlook set the tone for a day focused on the significant contributions of the oil and gas industry to the region and beyond.
Earlier in the month, the New Mexico Legislative Finance Committee convened in Carlsbad, highlighting the dramatic increase in state revenues from oil and gas activities, which have more than quadrupled in the last five years. During the EnergyPlex Conference, Representatives Meredith Dixon and Gail Armstrong discussed the transformative impact of this windfall on New Mexico’s economy. They emphasized the importance of balancing spending and reserves to ensure sustainable growth across the state.
Coterra Energy’s Bradley Cantrell, Vice President of the Permian Business Unit, participated in a panel discussion alongside representatives from Devon and Franklin Mountain Energy. Cantrell shared insights into Coterra Energy’s strategic vision for the Permian Basin, highlighting a short-term goal of 5% annual growth and a long-term commitment to investment in the region. He praised the unique resilience of the Permian Basin, which continues to thrive even during market downturns.
Cantrell also underscored Coterra Energy’s deep-rooted connection to the local community. He highlighted partnerships with initiatives such as the Career and Technical Education Center of Hobbs, which not only supports Coterra Energy’s commitment to education, but also promotes the wide berth of opportunities for New Mexicans, without having to leave the state. “Coterra has the smartest team in the world,” Cantrell stated confidently. “We will rise to any challenge and continue to grow.”
Throughout the day, speakers reinforced the strength of the oil and gas industry, its ability to overcome challenges, and the importance of driving meaningful change. The conference showcased the collaborative efforts and innovative strategies that are propelling the Permian Basin to new heights.
Coterra Energy was privileged to be part of the EnergyPlex Conference, which served as an excellent platform for building and strengthening community relationships. By participating in this event, Coterra Energy continues to demonstrate our dedication to fostering economic growth and community development in the Permian Basin.
As the industry looks toward the future, Coterra Energy remains committed to leveraging our expertise, innovative spirit, and community partnerships to drive progress and create lasting positive impacts.
