DALLAS — A new provision on how royalties are split between state and federal government from oil and gas production on federal lands will cost New Mexico $100 million over the next decade, according to the Capitol Report New Mexico, a nonprofit watchdog organization.

The change is part of the federal budget passed by the Senate Dec. 18 and sent to President Obama.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.