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Wed July 9, 2014
New Mexico Among Leading Oil Producing States
Federal statistics are showing what many people in New Mexico already know: The state is in the midst of an oil boom.
The U.S. Energy Information Administration released figures Tuesday that show behind the Gulf of Mexico, New Mexico, North Dakota and Wyoming were the next largest crude oil producers on federal and tribal land during the 2013 fiscal year.
And despite steady decreases since 2003, New Mexico remained among the top producers of natural gas.
The boom has also been felt by oil and gas developers working on state trust lands.
The State Land Office says the nearly $817 million in revenues earned during the 2014 fiscal year marks a record for New Mexico. The previous record of $653 million was set in 2012.
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