State Police say the accident occurred about 11:45 p.m. Saturday some eight miles north of Hobbs.
Police say 34-year-old Mary Guenther and 24-year-old Leaila Burleson were passengers in a vehicle driven by 21-year-old Shasta Eastteam.
All of the women are from Denver City, Texas.
Authorities say Eastteam overcorrected on State Road 132 and the vehicle rolled several times.
They say Eastteam and Guenther were ejected from the vehicle and pronounced dead at the scene.
Buerleson survived and police say she was the only person in the vehicle wearing a seat belt.
Authorities tell KOB-TV that alcohol has been ruled out as a contributing factor to the fatal crash.