CARLSBAD, N.M. (AP) — Oil service company Halliburton has announced plans to bring about 200 jobs to the Permian Basin, an area which covers southeast New Mexico and parts of western Texas.

The Current-Argus reports (http://bit.ly/2hB2c2u ) Halliburton spokeswoman Emily Mir says in a Wednesday statement there will be job opportunities in various parts of the basin, including in Artesia.

The announcement comes as local officials say there's been growth in the energy market in recent weeks, with more companies looking to expand in the region.

Shannon Carr with the Department of Development says an increase in oil and gas production will be good for the local economy.

Industry experts say oil prices need to be around $45 to $50 per barrel to be profitable.

Oil prices were at about $53 per barrel on Wednesday.