Oil and Gas Production by State: Top 5

2. New Mexico

Total Crude Oil Production in 2022: 579.837 million bbls

Total Natural Dry Gas Production in 2022: 2,454,058 mmcf

New Mexico has been a major producer of oil and natural gas since hydrocarbons were first discovered in the state during the early 1920’s. In 2022, the Land of Enchantment accounted for more than 13% of the total U.S. crude oil production, and 6% of the nation’s total natural gas gross withdrawals.

The annual oil production in New Mexico has more than doubled over the last five years, and the surge has allowed the state to bolster public salaries, expand access to no-pay childcare, and offer tuition-free college to its residents – while also setting aside billions of dollars in a variety of ‘rainy-day’ emergency accounts and investment trusts.