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Sat April 6, 2013
NM Land Office Reaps $44.8 Millon In March
Royalties from oil and natural gas production on state trust lands and various types of leases netted more than $44 million in revenue for the State Land Office in March.
New Mexico Land Commissioner Ray Powell says his office is working with tribes, local and federal agencies and the private sector to ensure that revenues from activities on trust lands are being optimized.
He says the goal is to create jobs while protecting the state's working lands.
The revenue coming into the Land Office from royalties and leases each month goes to support public schools, universities and hospitals.
In March, more than $40.5 million went to public schools alone. Nearly $2 million went to special schools, such as the School for the Blind and Visually Impaired in Alamogordo and the School for the Deaf in Santa Fe.
Copyright 2013 The Associated Press.