Oil and gas revenues for New Mexico schools amounts to $50M more than last year


SANTA FE, N.M. (KRQE) – Good news for schools: More money than expected is rolling in.

The State Land Office says that state revenue from oil and gas leases for the past fiscal year totaled $545 million — $50 million more than last year.

That money is distributed to public schools, universities and hospitals across the state. Since most budgets were based on last year’s figures, schools will get an unexpected bump in revenue.

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