Alva Review-Courier -

New Mexico brings in over $108M in oil, gas royalty payments

 


SANTA FE, N.M. (AP) — Oil and natural gas royalty payments for development on state trust lands netted nearly $109 million for New Mexico in one month.

Land Commissioner Stephanie Garcia Richard announced the record revenues Friday, saying the State Land Office is on track to raise another $1 billion this year for public schools, hospitals and other beneficiaries.

Much of drilling activity is happening in the Permian Basin, which straddles parts of southeastern New Mexico and West Texas.

The State Land Office's Royalty Management Division reports royalty revenue three months after produ...



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