A New Day at IPANM

Oil & Gas Industry Adds $3.1 Billion To State Revenues

The Albuquerque Journal (Jan. 16, 2020) — State revenue from oil and gas activity soared to a record $3.1 billion in fiscal year 2019, up 41% from the $2.2 billion generated the year before, according to the latest annual report from the New Mexico Tax Research Institute.

Industry-generated income accounted for 39% of all general fund revenues, the highest share in recent history.

New Mexico Earned $3.1 Billion in Oil & Gas Revenue in FY 2019