November 7, 2011
By ABQJournal Staff
New Mexico’s share of revenues from energy development on federal lands within the state tops more than $434 million this year.
The U.S. Interior Department released figures for this year’s dispersals Monday. In all, nearly $2 billion went to 37 states as their share of revenues collected from oil, natural gas and mineral production on federal lands within their borders.
New Mexico trailed Wyoming, the top state with more than $971 million in revenues.
New Mexico’s share of the revenues has gone up and down with the price of oil and gas over the last decade.
Last year, the state’s share was $380 million. That was down from a high of nearly $615 million in 2008.
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