New Mexico broke an oil production record in May, pumping an average 1.22 million barrels daily as the Permian Basin returned to output growth again. Bloomberg reports , citing government data, that New Mexico produced more oil than North Dakota, and it did so for three months in a row to May. New Mexico also recently reported record oil and revenues for the fiscal year 2021. According to the New Mexico State Land Office, it had received some $1.26 billion in total revenues in the latest fiscal year, of which $1.25 billion or 96 percent came from oil and gas royalties. Since the start of this year, revenues have strengthened further, averaging some $100 million per month and rising to a record $135 million for June, according to preliminary data. State Land Commissioner Stephanie Garcia Richard said, as quoted by the Carlsbad Current-Argus, that oil and gas production in […]