New Mexico Will Get Budget Boost From Oil Leases

Jul 05, 2017 2:08 PM

Associated Press / May 12, 2017 – 3:01 PM

martinez_4x4-01.pngSANTA FE, N.M. — The Latest on New Mexico’s state budget crisis (all times local):

New Mexico state finances are likely to get a $70 million boost this month after the U.S. Bureau of Land Management rejected environmental protests over oil and gas lease sales.

 

In an email obtained Friday, the Bureau of Land Management says the state’s share of sale proceeds from a batch of oil leases in southeastern New Mexico should be available by the end of May.

The money would ease financial pressure on New Mexico state government amid a budget crisis. The state is struggling to conserve cash as Gov. Susana Martinez contemplates unpaid furloughs for state workers.

Read the full article here