Archives for 2018

With drought a constant consideration for New Mexico, state and federal officials are warning that decisions about water are growing more complicated and opportunities to tap untraditional sources should be considered.
The state, with the help of the U.S. Environmental Protection Agency, has drafted a document that outlines areas where regulations can be streamlined to encourage the treatment and reuse of wastewater that comes from oil and natural gas operations.
The white paper released late last week says oil and gas production in New Mexico generated nearly 38 billion gallons (143 billion liters) of wastewater in 2017. As the boom in oil production continues in the Permian Basin’s well fields along the Texas-New Mexico border, officials say so will the amount of wastewater — known in the industry as produced water.
“Our effort to clarify the state and federal regulatory landscape dealing with produced water will facilitate greater produced water reuse and recycling and in turn help relieve the growing demand on the state’s water resources,” state energy secretary Ken McQueen said in a statement.
Aside from highlighting New Mexico’s rise in 2018 as one of the largest oil-producing states in the U.S., the document outlines the arid state’s challenges with drought.
Receiving an average of slightly less than 15 inches (380 millimeters) of rainfall a year, New Mexico is already the fifth driest state in the nation, according to the National Oceanic and Atmospheric Administration. That aridness was exacerbated this year as runoff along the Rio Grande and Pecos rivers marked some of the lowest levels in decades. Water managers were forced to broker deals to keep the Rio Grande flowing through the state’s most populous city.
“While conservation plays an important role in managing the state’s limited water resources, it is not enough,” the authors of the white paper wrote.
In New Mexico and other parts of the West, some stakeholders are asking whether production water from the oil and gas industry should continue to be treated as wastewater. Critics have voiced concerns about the lack of knowledge about the potential toxicity of the water.
The water usually contains chemicals, metals and other dissolved solids. Most of it is disposed of by injecting it deep underground, where it can no longer be accessed or used. In some cases, it can be reused in the oilfield for other drilling processes.
For every barrel of oil, it’s estimated four or five barrels of produced water are generated.
The state and the EPA are looking at what steps would be needed to treat it for other purposes, acknowledging that there are still health and environmental questions that need to be answered if the water were to be used beyond the industry.
State and federal officials began working on the white paper in July in hopes of clarifying existing regulatory and permitting rules related to the way produced water can be reused and recycled.
The state is working to finalize the draft before the end of the year.
Robert McEntyre, a spokesman for the New Mexico Oil and Gas Association, said some companies already reuse the water for their own purposes.
“What New Mexico lacks right now is the regulatory framework to be able to address using it for other purposes,” he said. “Certainly there’s an opportunity and given the growth we’ve seen, it could be a game-changer if the regulations catch up to where industry is.”
By: Susan Montoya (ABQ Journal)
Click here to view source article.

Thanks to all of the brokers, sponsors, and guests who attended the November 2018 CCIM NM Deal Making Session & Forum and to those who shared the November 2018 CCIM NM Properties.

Over 22 million dollars of commercial real estate properties available for sale were presented from all over New Mexico.
Click here to view source PDF.
Click here to view the Thank Yous.

	Name	Property, City	Type	Price
1.	Jim Smith, CCIM, SIOR Brecken Mallette	4703 Broadway Blvd SE	Industrial	$1,450,000
2.	Dave Vincioni	1809 San Mateo Blvd NE	Retail	$385,000
3.	Tai Bixby, CCIM	1091 NM State 68, Alcalde	Retail	$3,000,000
4.	Randy McMillan, CCIM	Sonoma Ranch	Mixed Use	$19,000,000
5.	Randy McMillan, CCIM Jake Redfearn	1701 Calle DeMercado	Retail	$1,150,000

Milwaukee Journal Sentinel article on Arena Package: Click Here

CARW Statement:

Milwaukee, WI (4/8/15) – The Commercial Association of REALTORS® Wisconsin is pleased to see the Milwaukee Bucks’ renderings of the new Milwaukee sports and entertainment arena and ancillary development.  It shows vision and foresight, and a holistic design that will serve as a welcoming, accessible gateway to the City as well as a vibrant entertainment space for the entire community.

“This is the single-most catalytic project for downtown Milwaukee in a generation with the prospect of $1 billion in new real estate development,” said Paul Galbraith, CARW Chairman.  “Not only will we all benefit from the construction of the arena, but the ancillary development, increase in property values, job creation, and connectivity this project will provide for our community and our region for decades to come as new phases of the project come to fruition.”

CARW has been working in partnership with the City of Milwaukee and Milwaukee County since June 2014, to market the Park East land where much of the ancillary development is proposed.  The original concept for the 16-acre site included mixed-use design.  “Our members work each and every day with business owners and site selectors contemplating new sites, and so often, look to the vitality of an area to drive that decision,” said Tracy Johnson, President & CEO for CARW.  “What we’re seeing today resembles a masterplan that ties in attractive retail, livable housing options, and office that will tie to other economic drivers in the community like educational institutions and convention centers.”

Cities that have made similar investments in sports and entertainment arenas have seen the economic influence that yielded new construction permits and increase in occupancy of hotels that in some cases, has been double what was initially predicted.

“We have the Bucks to thank for making this visionary project a possibility – we now have the responsibility as a community and leadership, to make this entire plan a reality,” said Paul Galbraith.  “This is one of several commercial projects that is tipping our City and our State in the right direction.”

###