Oil + Gas Wells and Leases Tracker
The New Mexico Taxation and Revenue Department (NMTRD) partnered with RS21 to create an Oil and Gas Wells and Leases Tracker to enhance forecasting and revenue analysis of New Mexico’s oil and gas sector.
Because oil and gas revenues provide important funding for many state programs and services, NMTRD sought a solution to better share information with stakeholders and the public to facilitate improved decision-making.
Enhanced Data Capabilities
The tracker advances the department’s data collection, analysis, and reporting capabilities by automating processes, improving data accessibility, creating impactful visualizations, and deploying user-friendly dashboards for industry insights. These enhancements are designed to streamline departmental operations, provide up-to-date information on demand, and improve efficiencies.
By automating many manual processes, NMTRD can now generate reports more efficiently and with greater accuracy, making it easier to develop weekly oil and gas reports.
Interactive Dashboards
The tracker integrates spatial data with historic and current oil and gas information. Users can explore various metrics, trends, and detailed tables to derive data-driven insights.
The spatial data and visualization also enable users to select specific regions to access leases and the most recent production data.
Impact + Benefits
NMTRD’s tracker provides a publicly accessible tool, promoting transparency and informed decision-making. The platform not only boosts operational efficiencies but also empowers stakeholders and the public with vital data for better governance and resource management.
The national Federation of Tax Administrators recognized the New Mexico Taxation and Revenue Department with its Innovation and Excellence in Tax Administration Award for the department’s new automated oil and gas compliance tracker. Read the full story.
RS21 Insights: NMTRD Tracker
Watch an in-depth interview with RS21 Analyst Team Lead Morgan Walker as they explore the Oil + Gas Wells and Leases Tracker. Discover how the application improves data management and transparency to advance industry insights and revenue forecasting.
Driving Results
“This is one of those moments where we get to say we are working smarter and more efficiently to better serve New Mexico. A big shout-out goes to RS21 and to our staff who developed this project.”