Adrian Hedden, Carlsbad Current-Argus | December 2nd, 2021About $5.3 billion in revenue came to New Mexico from oil and gas production in the last fiscal year, per an industry report.Read more
Bulletin Report, The Las Cruces Bulletin | November 22nd, 2021The New Mexico Oil & Gas Association’s (NMOGA) Brighter Future Fund awarded $100,000 in grant funds in November to 15 New Mexico nonprofits, including three based in Las Cruces, NMOGA said in a news release.Read more
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.Read more
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.Read more
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
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.