American Oil and Gas Reporter - April 2015 - 43

Representative Rod Montoya, R-Farmington, requests Congress to recognize
the importance of crude oil exports and
free trade, and take all steps to eliminate
the U.S. ban on crude oil exports.
"The membership of IPANM, which
consists of upstream, mostly independent,
producers, felt it was important to ask the
New Mexico House to send a strong message that oil production is important to our
state," Foster says. "I have to thank our
new land commissioner, Aubrey Dunn,
who testified in support of the memorial,
and legislators who might not usually support the oil and gas industry, who understood
the importance of lifting the export ban."
Legislators approved the memorial,
49-17.

State Budget
New Mexico legislators also passed
the state's general fund budget in a relatively straightforward process. However,
Drangmeister says the House and Senate
had an 11th-hour disagreement over
whether certain bonding capacities should
be allocated to roads, or if an increased
fuel tax should be imposed to pay for
road projects.
"As a result, $264 million in capital
projects of all kinds-not roads only-were

left on the table," Drangmeister says.
"The issue now is whether that disagreement will be held over until the 2016
session, or whether a special session will
be called."
State legislators also are reacting to a
revised revenue forecast, Drangmeister
says. In the fall, analysts projected as
much as a $280 million budget surplus,
and he says lawmakers began scrambling
to find projects to fund. "Because of reductions in oil and gas prices, that surplus
came down to $80 million by the time
the legislative session was under way,"
he reveals.
Decreased commodity prices are expected to continue to affect state finances,
Drangmeister says. In Fiscal 2014, 35 percent of general fund revenues came directly
from oil and gas activities; in this fiscal
year, he says NMOGA estimates that percentage will be closer to 30.
"That still is a huge part of the state's
finances," Drangmeister poses. "Obviously, everyone in the oil and gas industry
is keeping an eye on commodity prices,
but they are very critical for the state of
New Mexico and the people who (prepare)
the budget as well."
Foster says the best news about the
2015 session was there were no anti-oil-

or-gas bills among the 1,700 bills and
hundreds of memorials introduced.
"We were able to work with leadership,
committee chairmen and members to get
our bills through the House," Foster says.
"Unfortunately, Senate leadership was
not as supportive of our bills, but we will
continue to work with them and the local
governments. I am looking forward to
the next few years at the New Mexico
Legislature and with the current administration at both the governor's office and
the State Land Office. We have to make
up for lost time, and work with businessfriendly legislators and the executive to
push good energy policy in our state."
Despite NMOGA's disappointment
over the pre-emption bills not passing,
Drangmeister expresses satisfaction with
the overall legislative session. "A significant number of legislators are very knowledgeable about how oil and gas operations
intersect with the fiscal and operational
aspects of the state," he praises. "They
work very hard to produce reasonable
laws that protect the environment while
allowing operators to do business in an
effective way. Bad proposals didn't get
much traction in this session. That is a
credit to the knowledge and hard work
of the legislators."
r

APRIL 2015 43



American Oil and Gas Reporter - April 2015

Table of Contents for the Digital Edition of American Oil and Gas Reporter - April 2015

Contents
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