- Associated Press - Thursday, May 8, 2014

SANTA FE, N.M. (AP) - The New Mexico State Land Office says revenues earned from oil and natural gas development, grazing and other activities on state trust lands topped out at $69 million in April.

Land Commissioner Ray Powell says the money will go a long way in helping the state’s public schools, universities and hospitals.

Powell’s office manages state lands to generate income for a total of 22 beneficiaries.

Revenues from oil and gas royalties are funneled to the Land Grant Permanent Fund. Revenues from grazing fees, rights of way and interest related to oil and gas leases are distributed directly to the beneficiaries.

Public schools received more than $61 million of April’s earnings. The rest went to state colleges and universities, public buildings, water reservoirs and improvements along the Rio Grande.

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