Exploration for oil and gas in the Tertiary grabens and basin of the Rio Grande rift system has been sporadic and noncommercial. Several factors may change this situation in the future, at least in basins such as the Santa Fe embayment of the Espanola basin. The confirmed presence of source rocks, adequate reservoirs, and a favorable maturity history in the Santa Fe embayment suggest that parts of this subbasin may ultimately prove to be productive.

Significant oil and gas shows have been reported in the four wildcat wells drilled to date. Oil-stained outcrops and numerous stratigraphic and structural anomalies appear to make the area an attractive exploration target. Jurassic and Cretaceous rocks are the primary objectives and a close look at the structural evolution of the basin may provide clues to exploration in the related rift basins both north and south of the area.

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