1. New Mexico State Land Office Commissioner Aubrey Dunn Patrick Padilla Assistant Commissioner for Oil, Gas & Minerals

2. FY2016 Revenue Breakdown
FY 2016 earnings marked $495.4 million, distributing over $477.6 million to beneficiaries.
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3. Royalties
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4. WTI & Royalties
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5. Royalty Revenue Projections
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6. Rig Count
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7. Top Ten Oil & Gas Producers
Gas (MMCF)
Oil (MMBO)
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8. SLO Joins the 21st Century
Technological enhancements will….
Increase return to beneficiaries
Maximize SLO operational efficiency
Reduce SLO overhead
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9. Online Oil & Gas Lease Sales
EnergyNet chosen through RFP process
First SLO online sale closes tomorrow
SLO will also host onsite oral auctions in Santa Fe
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10. ONGARD Replacement
Keep Tri-Agency functionality, improve user interface
Industry feedback: NMOGA & IPANM
Contractor projected start date: March 2017
Projected rollout: November 2018
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11. LIMS Rollout Successful cutover in July, 2016
Functionality improving daily through user input
Excellent template for ONGARD project
Increased SLO land management capability
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12. Oil Well Shut-In Rule
October 31 – target effective date for new rule allowing shut-in of oil wells on State Trust Lands; hearing date 10/6/16
Rule will be in effect for two years, unless earlier terminated by the Commissioner; could be extended for another two years if low oil prices persist
Must timely notify the Commissioner as to the shut-in of each well and pay annual shut-in royalty (greater of twice the annual rental or $320) on a per well basis
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13. 2017 Legislation State Trust Lands Restoration and Remediation Fund
Many problems in a low commodity price environment
No dedicated remediation fund
Would divert a percentage of existing maintenance fund revenues, no additional fees for industry
Early Childhood Education Fund
SLO administration of unleased federal subsurface
SLO is quantifying economic viability
Alternative to raids on Permanent Fund principal
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14. Early Childhood Fund
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15. FY 2016 Distribution Of State Trust Land Revenue
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16. SLO Goals & Objectives
Administer State Trust Land to generate the highest possible level of revenue for our beneficiaries to continue this endowment for generations to come.
Conservation and enhancement of trust asset values through diligent land management.
Conduct the operations of the State Land Office in a manner consistent with strong fiscal accountability, efficiency, and customer service.
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17. Working with Industry Regulatory Certainty Open Door Policy
Solution-Driven Outcomes
Feedback on Improvements to the Process
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18. New Mexico State Land Office Thank you! Questions?
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