Alva Review-Courier -

New Mexico lawmakers study oil revenues, weigh royalty hike

 

January 18, 2019



SANTA FE, N.M. (AP) — New Mexico legislators are being briefed on an oil-industry funded analysis that highlights the state's leading position in obtaining revenue from the production of oil and gas.

The presentation Friday to a House budget-writing panel comes as lawmakers contemplate raising the state's 20 percent cap on royalty rates for oil and natural gas production on state trust land in the Permian Basin. The basin that straddles the Texas-New Mexico state line has become one of the world's most productive oil fields.

The study from the Moss Adams consulting firm says New Mexico st...



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