by Joey Keefe | Feb 7, 2025 | News
Oil and gas royalty rates could increase in premium parcels on state trust lands in the Permian Basin, if state legislation passes. SB 23, which cleared its first committee on Thursday, would increase the rates oil and gas producers pay to extract oil from the top...
by Joey Keefe | Feb 7, 2025 | News
By Alaina Mencinger and Margaret O’Hara | Santa Fe New MexicanFebruary 7, 2025 State Land Commissioner Stephanie Garcia Richard is optimistic her yearslong effort to raise New Mexico’s oil and gas royalty rate on the top tracts of land is finally poised for...
by Joey Keefe | Feb 7, 2025 | News
By Megan Gleason | Albuquerque JournalFebruary 7, 2025 SANTA FE — A committee vote of 5-3 on oil and gas legislation came down to what legislators thought was the right thing for New Mexicans as well as the industry that funds more than a third of the state’s budget....
by Joey Keefe | Feb 6, 2025 | 2025 News Releases, Announcements
SANTA FE, N.M. – Legislation pushed by New Mexico Commissioner of Public Lands Stephanie Garcia Richard to increase the top royalty rate charged for new oil and gas development on the best state lands from 20% to the market rate of 25% cleared its first hurdle today....
by Joey Keefe | Jan 17, 2025 | 2025 News Releases, Announcements
New Mexico Commissioner of Public Lands Stephanie Garcia Richard is again urging the legislature to increase the top royalty rate charged for new oil and gas development on state lands from 20% to the market rate of 25%. The legislation, which has been pre-filed by...
