FOR IMMEDIATE RELEASE
April 15, 2020
Angie Poss, Assistant Commissioner of Communications
State Land Office Public Tele-Hearing Friday, April 17th at 1:00 PM Regarding Emergency Oil Well Shut-In Rule
SANTA FE, NM – The State Land Office initiated emergency rulemaking to allow oil lessees to temporarily stop producing without penalty for at least thirty days, with a possible extension up to 120 days when Commissioner Garcia Richard initiates a longer-term rule change process.
The emergency rulemaking process is a response to low oil prices due to COVID-19 and compounded by the global price war between Russia and Saudi Arabia. The State Land Office manages over 13 million mineral acres for the benefit of New Mexico public schools, hospitals, and universities. It is in the best interest of these vital public institutions to allow temporary oil well shut-ins to assure the best value for non-renewable resources on state trust land.
A public tele-hearing will take place Friday, April 17th, 2020 starting at 1:00 pm.
When: Friday, April 17th from 1:00 PM to 2:30 PM
Where: GoToMeeting Online
Please join this meeting from your computer, tablet or smartphone. https://global.gotomeeting.com/join/294630917
Call In Details: United States: +1 (571) 317-3122
Access Code: 294-630-917
Who: State Land Office - Office of General Counsel, Assistant Commissioner of Mineral Resources, and YOU, members of the press and public that would like to provide comment on consideration of the emergency rule.
Participants are encouraged to submit questions or comments ahead of time at: https://www.nmstatelands.org/public-comment/
View the draft emergency rule change language in advance of the hearing:
Oil, gas, and mineral production, ranching and farming, and commercial development on State Trust Lands support public schools, seven universities, New Mexico Military Institute, New Mexico School for the Deaf, New Mexico School for the Blind and Visually Impaired, three hospitals, correctional facilities, water conservation projects, and public building construction and repair. In fiscal year 2019, the State Land Office collected $1 billion from lease payments, oil and gas lease sale earnings, rights-of-way, permits, interest, fees, and oil, gas and mineral royalties.
Is the tele-hearing 1:00 mountain time? Thanks,
Sally M. Kvasnicka, Land Manager
Fasken Oil and Ranch, Ltd.
6101 Holiday Hill Road
Midland, TX 79707