News

Oil and gas industry provided record $5.3 billion to NM state, local revenue in 2021

KRQE Staff, KRQE | December 1st, 2021NEW MEXICO (KRQE) – A new report shows the oil and gas industry brought in a record $5.3 billion to state and local governments. The New Mexico Tax Research Institute has published a report that indicates that the state’s oil and natural gas industry provided $5.3 billion in state and local tax revenue for the fiscal year 2021. According to the New Mexico Oil and Gas Association, this is the highest figure ever recorded in the state’s history.

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NM’s record-high revenue projections keep climbing

Dan McKay, Albuquerque Journal | December 3rd, 2021SANTA FE — New Mexico’s sky-high revenue projections for the next year shot up again Friday as state economists shared their latest findings at the Capitol.

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News Release: Oil & Natural Gas Delivers Record $5.3 Billion to New Mexico State and Local Revenue in 2021

Revenue grows $500 million on the strength of production, returning drilling activity, and rebound in market prices

NMOGA Press Release | December 1, 2021

SANTA FE, NEW MEXICO, December 21, 2020 – A new report from the New Mexico Tax Research Institute shows the state’s oil and natural gas industry provided $5.3 billion in state and local tax revenue for fiscal year 2021 – the highest figure ever recorded in New Mexico history. Revenue jumped more than $500 million from fiscal year 2020 on production growth and improving market conditions, as New Mexico also became the second-largest oil producer in the United States.

 

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NMOGA Statement on Interior Department’s Oil and Gas Leasing Report

Holiday Shopping Is Powered By Oil and Natural Gas

Holiday Shopping is powered by oil and natural gas, find out what parts of your holiday gift shopping will be thanks to these natural resources:

 

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7 Reasons to be Thankful for the Oil and Natural Gas Industry on Thanksgiving

There are countless reasons to be thankful for New Mexico’s oil and natural gas industry on Thanksgiving. Here are seven that we think are especially important:

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