April’s New Mexico State Land Office royalty earnings from oil and gas leases reach new high

April earnings from oil and gas leases hit new levels according to one state department.

On Tuesday, the New Mexico State Land Office announced the department earned $109.8 million in April from oil and gas lease royalties — its highest earning month to date.

The earnings broke the previous high of $108.9 million in February 2020, the department said.

The high earnings from royalties on oil and gas leases in April can be attributed to the higher prices on oil and sustained production this year,…

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