The Independent Petroleum Association of New Mexico was formed in 1978 by a concerned group of New Mexico independent oil and natural gas producers. In the spirit of this tradition, IPANM continues to grow and provide the services that protect, defend, and promote the industry that is the very foundation of our way of life. A primary goal of IPANM is to educate the public about the benefits provided by our industry. Oil and natural gas is the WORKHORSE of New Mexico’s economy. It is vital the public understand that as an industry we continually contribute to a better New Mexico.
IPANM monitors industry issues on the state and national level and gets involved when necessary. IPANM actively works to promote legislation in New Mexico, works with state regulatory agencies, and even pursues litigation when called for.
Additionally, IPANM’s more than 300 members enjoy technical education and networking opportunities.
We educate the public about the enormous positive impact our industry has on New Mexico’s economy, and we challenge anti-industry attack groups who seek to intentionally deceive the public.
The Fuel AND Engine of New Mexico’s Economy
Where energy is concerned, New Mexico is one of the most important states in the nation. We are ranked fifth oil production and sixth in natural gas production (with just a little boost our state could be 2nd in natural gas production behind Texas).
Our industry directly employs 13,000 people in jobs that pay about 40 percent more than the average state wage. As we are fond of saying, oil and natural gas are the “Fuel AND Engine” of our economy.
In 2010 our industry contributed $1.66 billion in direct tax, lease and royalty revenue to the state, and that doesn’t include corporate or payroll taxes.
The Land Grant Permanent Fund that was built and is continuing to be fueled by oil and gas is now worth $9.5 billion. Every year the fund pumps hundreds of millions of dollars into education and 20 other public entities.
New Mexicans can feel very proud of this industry that does so much for all of us.