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Permian Basin Oil and Gas Magazine

PBOG is the Official Publication of the Permian Basin Petroleum Association and is published monthly by Zachry Publications, LP.

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Contributions to NM Land Grant Fund decline 66 percent in 5 months

August 20, 2020 by PBOG

Government officials in New Mexico said this week the amount of money flowing into the state’s largest permanent fund has declined dramatically as the pandemic and resulting oil price decline curtailed production in Permian Basin. Santa Fe New Mexican reported Thursday monthly contributions to the state’s Land Grant Permanent Fund fell to $37.2 million in July – about a third of the $109.9 million in February before steep declines in oil prices started in March.

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