Page 21 - State Trust News Today : Breaking News, Live Updates & Top Stories | Vimarsana

U.S. Rep. Yvette Herrell (R-NM), New Mexico’s only Republican in Congress, continued in the charge against energy policies enacted by President Joe Biden’s administration which Herrell said threatened her home state more than most in the U.S. Herrell joined a forum held Friday by Republican members of the U.S. House Committee on Natural Resources which pointed to purported negative impacts of Biden’s policies on state economies and America’s oil and gas industry. Upon taking office, Biden via executive order placed a temporary pause on new federal oil and gas land leases, while callin...

Oil and gas production on New Mexico’s state public land generated a record-breaking amount of revenue last month, per official figures released Tuesday by the New Mexico State Land Office. April 2021 netted $109 million in royalties from oil and gas production on State Trust Land, the highest in the Office’s history, per a news release. The second- and third-highest months were both last year with $108.9 million in February 2020 and $106.3 million in April of that year. Dollars generated from royalties paid to the State Land Office by operators were deposited into the State’s Land Gran...

Oil and gas was a precious commodity in New Mexico for decades, generating billions of dollars in revenue for the state each year. Amid the COVID-19 pandemic, the value of fossil fuels to New Mexico remained unchanged as the State Land Office reported continued high levels of production and revenue from extraction on state land.   Land continued to be leased to operators in monthly sales as operations focused on the Permian Basin region to the southeast. But New Mexico Commissioner of Public Lands Stephanie Garcia Richard said the resource was “finite” and would run out eventually. To he...

Oil and gas was a precious commodity in New Mexico for decades, generating billions of dollars in revenue for the state each year. Amid the COVID-19 pandemic, the value of fossil fuels to New Mexico remained unchanged as the State Land Office reported continued high levels of production and revenue from extraction on state land.   Land continued to be leased to operators in monthly sales as operations focused on the Permian Basin region to the southeast. But New Mexico Commissioner of Public Lands Stephanie Garcia Richard said the resource was “finite” and would run out eventually. To he...

A 'finite' resource: New Mexico Land Office diversifies ahead of decline in oil and gas Adrian Hedden, Carlsbad Current-Argus Replay Video UP NEXT Oil and gas was a precious commodity in New Mexico for decades, generating billions of dollars in revenue for the state each year. Amid the COVID-19 pandemic, the value of fossil fuels to New Mexico remained unchanged as the State Land Office reported continued high levels of production and revenue from extraction on state land.   © New Mexico State Land Office New Mexico State Land Commissioner Stephanie Garcia Richard meets w...