N.M. State Land Office Smashes Records as it Auctions First Oil and Gas Leases at Newly-created 25% Royalty Rate ...
SANTA FE, N.M. – For the first time, the New Mexico State Land Office has auctioned oil and gas leases at a 25% royalty rate after a new state law backed by Commissioner of Public Lands Stephanie Garcia Richard kicked in. The law, which became effective …