Alva Review-Courier -

New Mexico proposal calls for hike in oil and gas royalties

 

January 30, 2019



SANTA FE, N.M. (AP) — Royalty rates for the most productive oil and natural gas wells on state trust land would increase under a measure introduced in the New Mexico Legislature.

State Land Commissioner Stephanie Garcia Richard and other supporters have pointed to the current budget surplus that has been fueled largely by revenues from the energy sector. They say additional money from oil and gas drilling on state lands would help to fund public education reforms.

"When oil and gas companies are making more and more money every year, our kids, teachers, and public schools should benefit f...



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