Oil Royalties: North Dakota Vs New Mexico -- July 10, 2021

I do not know if I'm comparing apples to oranges, or if the Carlsbad Cavern article addresses all oil royalty money to New Mexico, but this is what I'm seeing.

From the Carlsbad Cavern, 

Oil production on New Mexico state land led to a record $1.25 billion in revenue in the last fiscal year.

The New Mexico State Land Office reported Fiscal Year 2021 revenue estimates showed $1.2 billion or 96 percent of those funds came from oil and gas royalties.

Since January, when the oil and gas industry began recovering from a downturn brought on by the COVID-19 pandemic, monthly royalty payments were at least $100 million, with June’s early projection at $135 million – a new record.

North Dakota, from the Williston Herald,

The oil industry pays a whopping 50% of all the taxes paid to the state of North Dakota. Of that, 70% goes into various state funds and to local governments and 30% is saved in the Legacy Fund.

Currently, the oil industry in North Dakota is depositing about $50 million monthly into the Legacy Fund. Working backwards, 30% of what = $50 million. The answer: $150 million / month or about $1.8 billion / year.  Note: the "$50 million" is current but that's only the last month or so; most of this year (2021) the deposits have been running about $35 million or less per month. 

But it appears that New Mexico beat North Dakota on oil royalties for fiscal year 2021, which I assume runs from July 1, 2020, to June 30, 2021. 

Note: I often make simply arithmetic errors, and often misread/misunderstand what I read. If this important to you, go to the sources.

A huge "thank you" to a reader who sent me the link to the Carlsbad Cavern. 

The exact numbers matter not to me. This just helps put everything into perspective.