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Income for Schools Surges from Activity on State Trust Lands

By State Land Commissioner 

SANTA FE, NM – State Land Commissioner Aubrey Dunn today announced that during the first six months of Fiscal Year 2018 the State Land Office collected $104 million from activity on State Trust Lands, which exceeds last fiscal year’s total earnings.

The boost in revenues means more money will flow into public school coffers. Between July 1 and December 31, 2017, the State Land Office distributed nearly $67 million to public schools – nearly $36 million more than last year at the six-month mark.

An additional $18 million was distributed to seven universities, the New Mexico Military Institute, the New Mexico School for the Blind and Visually Impaired, the New Mexico School for the Deaf, and other institutions and programs supported by the agency.

Revenues are earned from oil and gas lease sales and rental payments from oil, gas, and mineral production, ranching and farming, and commercial operations on State Trust Lands, along with permits, fees, and interest.

Oil and gas production on State Trust Lands dominates the agency’s business activity, and has generated $77.5 million since July 1.

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