- Associated Press - Friday, April 28, 2017

SANTA FE, N.M. (AP) - New Mexico state trust lands generated $399 million in income during the first nine-months of the fiscal year ending in March - a slight decrease from the previous year.

The New Mexico State Land office said Thursday that income predominantly from oil and natural gas royalties and leases fell from $410 million.

New Mexico State Land Commissioner Aubrey Dunn says renewed activity in the oil and gas sectors is expected to drive an increase in state income from trust lands by the end of the fiscal year in June. He expects an additional $30 million or more.

The State Land Office oversees 14,000 square miles (36,000 square kilometers) of land and additional underground resources that are used to help fund schools, universities, hospitals and other public institutions.

Copyright © 2019 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times welcomes your comments on Spot.im, our third-party provider. Please read our Comment Policy before commenting.


Click to Read More and View Comments

Click to Hide