Annual Report 3 - New Mexico - Energy, Minerals and Natural ...

Data and Statistics
OVERVIEW: As of November 2010, there were 25,761 oil wells, 29,934 gas wells, 645 C02 wells, 3,794
enhanced recovery injection wells and 765 salt water disposal wells. Between 2002 and 2009, a total of 6,471 wells
were plugged and the sites were remediated by either the well operators or through the Oil and Gas Reclamation
Fund.
Oil prices rose significantly throughout 2009 until April, 2010; as of November 17, 2010, oil prices are slightly below
that April level with the New Mexico Intermediate Crude oil price of $77.25 per barrel. Gas prices rose slightly from
the beginning of 2009 to the end of the year; the gas price is now $4.03 per MMBtu (Million British Thermal Units)
Henry Hub.
Total New Mexico oil production in 2009, including condensate, was 61.2 million barrels, an increase of over one
million barrels over 2008’s volume, which was an increase of nearly one million barrels over 2007. New Mexico
natural gas production in 2009 was 1,397 BCF (billion cubic feet).
State General Fund:
New Mexico State Revenues from Oil and Gas Production
ANNUAL REPORT 2010
FY 2006 FY 2007 FY 2008 FY 2009 FY 2010
Oil and Gas Emergency School Tax 1
$483,240,216 $420,254,277 $557,668,091 $370,353,954 $314,564,062
Oil and Gas Conservation Tax 1
22,564,448
21,204,165 29,115,356 18,916,799 16,742,023
Natural Gas Processors Tax 1
26,841,174
35,627,328 30,617,748 40,341,003 40,436,731
Federal Mineral Leasing Royalties 1
State Land Office Rents, Bonuses,
556,540,613 501,123,515 564,181,538 507,228,551 352,380,652
etc. 2
52,695,563
50,409,672 46,084,845 36,442,282 62,923,624
Total -- General Fund Revenue 1,141,882,014 1,028,618,957 1,227,667,578 973,282,589 787,047,092
Severance Tax Permanent and
Bonding Fund:
Oil and Gas Severance Tax 1
Land Grant Permanent Fund:
State Land Office Royalties 2
488,952,323
405,343,063
Grand Total of All Funds 2,036,177,400
425,403,323
390,449,484
1,844,471,764
567,447,973
395,929,247
2,191,044,798
378,141,950
406,008,901
1,757,433,440
(1) Source: New Mexico Taxation and Revenue Department: Tax Analysis, Research and Statistics Office.
Note: For FY 2004 - 2009, the data reported are actual audited figures that were distributed to the General Fund. FY 2010 data are
preliminary, unaudited numbers.
(2) Source: State Land Office
327,573,047
316,466,037
1,431,086,176
Table 1
103