Final Report

This morning Representative Tom Taylor announced that after 16 years of public service he is resigning from the New Mexico Legislature. Tom was also on the city council in Farmington for 16 years prior. Tom was always a leader, a supporter and most importantly an unbelievably strong friend to our industry. Tom will be missed.

Yesterday evening Rep. Strickler and Rep. Bratton presented a bill to the House Business & Industry Committee that would allow operators of marginal natural gas wells on SLO lands to ask for a royalty rate reduction from 12.5% to 5%. The bill was drafted at the request of IPANM, and we testified as the expert witness for the bill. The bill was well received by the committee and it passed 9 to 3. I look forward to continuing our work on this bill during the interim and next sessions.

The Session ends tomorrow at noon. The bills we were concerned about are dead. Thank you for the opportunity to represent our industry as the voice of the independent oil and gas producer in New Mexico.