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 Right of Entry RequestNew Mexico State Land Office 2015

Response to Request for Entry of Land in New Mexico 2015-2025 Form

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the state is looking to earn every possible Penny on Prime oil producing land in southeast New Mexico meaning the state will not accept any leases for some of the best drilling places until the royalty rate goes up news 13's Chandler farnworth has that story they are really um you know uh clamoring to have these these leases put back on the lease sale and the reason is because they are so lucrative but for now the state says they will withhold any leases on several hundred acres of Premium oil Land in Southeastern New Mexico you know New Mexico wasn't charging top dollar for a resource that that um is is valued higher state officials argue the amount of money New Mexico has earned in royalties from oil leases on primeland is far below from what other states in the area are making as it stands the state receives 18 to 20% % in royalties from oil pumps in the permium Basin for a typical parcel of land but for the prime real estate officials say they would like to increase

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