$1B in revenue expected from New Mexico’s state trust lands

New Mexico is on track to have another banner year as a result of oil and gas drilling and other activities on state trust lands. The land management agency expects revenue for the recent fiscal year to top $1 billion. Back-to-back billion-dollar years are breaking revenue records despite the bottoming out of the oil industry earlier this year, the call for some wells to be temporarily shut down and continued economic uncertainty resulting from the coronavirus pandemic.