New Mexico State Land Office holds hearings to increase oil and gas bond costs

By: Joshua Bowling

Outlets: Source New Mexico

Published: May 27, 2026

Words: 657

Last Updated: 1 month, 4 weeks ago

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The New Mexico State Land Office on Wednesday began a two-day public hearing over a proposal that would increase the amount of money oil and gas companies operating on state land must guarantee for plugging and cleaning wells, and would implement annual reporting requirements.

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Currently, oil and gas operators are required to guarantee a minimum $10,000 bond for a single lease, $20,000 for multiple leases or …

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