Lawmakers look to send more state funds to clean up New Mexico’s abandoned oil wells
Feb 5, 2024
A bipartisan New Mexico Senate bill intended to unlock more state funding for the clean up of abandoned oil and gas wells was endorsed by industry leaders during the 2024 Legislative Session.
Senate Bill 249, sponsored by Democrat Sens. Joseph Cervantes and George Munoz, along with Republicans Greg Nibert and Steven McCutcheon would require an oil well reclamation fund maintain a balance of $60 million annually, using tax dollars generated through the Oil and Gas Conservation Tax.
