Once again, New Mexico has reported record revenues stemming from oil and gas production, with the state predicting it will raise nearly $3 billion in FY24 from the industry alone, up 4.6 percent from FY23 estimates:
“The state’s historic revenues have been growing at a record pace propped up by booming oil and gas…”
However, analysts with the New Mexico Legislative Committee warn that issues with federal leasing and pipeline approvals threaten the industry’s ability to continue providing a much-needed lucrative and stable source of revenue to the state.
