State Land Office Royalty Audit Collections Up 47% in 2019

Since assuming office in January, Commissioner Garcia Richard has been working to enhance the auditing capacity at the State Land Office.  The Royalty Management Division is tasked with auditing 85% of Land Office royalty revenue every five years.

“Raise the Rate” Bill Hearing Scheduled in House Commerce and Economic Development Committee

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“Raise the Rate” Bill Hearing Scheduled in House Commerce and Economic Development Committee

SANTA FE, NM – House Bill 398, the “Raise the Rate” Bill, has been scheduled for consideration by the House Commerce and Economic Development Committee at 1:30 p.m.  Friday, Feb. 15.  Sponsored by Representative Derrick Lente (D-65), the bill seeks to raise the royalty rate on the top performing oil and gas leases on state trust lands to ensure more money is made for New Mexico schools and hospitals.

Land Office Requests Funding to Establish an Office of Renewable Energy; Improve Management of Oil and Gas Activities

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Land Office Requests Funding to Establish an Office of Renewable Energy; Improve Management of Oil and Gas Activities

SANTA FE, NM – For Fiscal Year 2020, Commissioner Stephanie Garcia Richard has requested additional budget appropriations for four new district resource managers tasked with overseeing oil and gas activity in the Permian Basin and resources to establish the Office of Renewable Energy.