NEW MEXICO (KRQE) – Editor’s Note: This story has been updated to show how much money the state believes it missed out on from oil and gas revenue since 2015.
New Mexico is missing out on hundreds of millions of dollars in oil and gas revenue according to the New Mexico State Land commissioner. “The past three years, New Mexico has produced more new barrels of oil than Texas,” said a speaker at Wednesday’s meeting.
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That’s the good news. Over the last three years, New Mexico has had more oil production than any other state and that includes Texas, according to the state land office. Texas has 5,400 leases, while New Mexico has 6,000 and it continues to grow. “And this is an outdated figure y’all since 2019, $10 billion for New Mexico’s beneficiaries,” said a speaker at Wednesday’s meeting…