New Mexico nets record revenues from oil production

New Mexico nets record revenues from oil production

Pump jacks work in a field near Lovington, N.M. Oil production in New Mexico has surged, resulting in record revenues for government coffers and public education. Figures released Tuesday by an industry group show revenues and taxes from the oil and natural gas sector reached a high of $2.2 billion for the 2018 fiscal year.

New Mexico nets record revenues from oil production

Pump jacks work in a field near Lovington, N.M. Oil production in New Mexico has surged, resulting in record revenues for government coffers and public education. Figures released Tuesday by an industry group show revenues and taxes from the oil and natural gas sector reached a high of $2.2 billion for the 2018 fiscal year.

New Mexico nets record revenues from oil production

Jacob Ford/Odessa American via AP, file

An oil rig and pump jack work along the roadside of FM 1788 in October in Midland, Texas. With more barrels of oil being pumped monthly from the Permian Basin, New Mexico is among the nation’s top producing states.