Oil, natural gas expected to bring more money to New Mexico

June 11, 2018

Oil and natural gas production in southeast New Mexico is expected to bring in even more money for the state.

According to the Carlsbad Current-Argus, a legislative economist says the U.S. could produce up to $11.9 million barrels of crude oil per day by next year. Much of that comes from New Mexico and Texas.

The state's bottom line could see a boost if the projected $65 per barrel price holds.

The industry contributed $1.7 billion in direct revenue to the state last fiscal year.

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