NMSA 1978, § 7-30-2 — Definitions

As used in the Oil and Gas Conservation Tax Act:

# A.

"department" means the taxation and revenue department, the secretary of
taxation and revenue or any employee of the department exercising authority lawfully
delegated to that employee by the secretary;

# B.

"production unit" means a unit of property designated by the department from
which products of common ownership are severed;

# C.

"severance" means the taking from the soil of any product in any manner
whatsoever;

# D.

"value" means the actual price received for products at the production unit,
except as otherwise provided in the Oil and Gas Conservation Tax Act;

# E.

"product" or "products" means oil, including crude, slop or skim oil and
condensate; natural gas; liquid hydrocarbon, including ethane, propane, isobutene,
normal butane and pentanes plus, individually or any combination thereof; and non-
hydrocarbon gases, including carbon dioxide and helium;

# F.

"operator" means any person:
(1) engaged in the severance of products from a production unit; or
(2) owning an interest in any product at the time of severance who receives a
portion or all of such product for the person's interest;

# G.

"purchaser" means a person who is the first purchaser of a product after
severance from a production unit, except as otherwise provided in the Oil and Gas
Conservation Tax Act;

# H.

"person" means any individual, estate, trust, receiver, business trust, corporation,
firm, copartnership, cooperative, joint venture, association or other group or combination
acting as a unit, and the plural as well as the singular number;

# I.

"interest owner" means a person owning an entire or fractional interest of
whatsoever kind or nature in the products at the time of severance from a production
unit or who has a right to a monetary payment that is determined by the value of such
products;

# J.

"tax" means the oil and gas conservation tax; and

# K.

"volume" means the quantity of product severed reported using:
(1) oil, condensate and slop oil in barrels; and
(2) natural gas, liquid hydrocarbons, helium and carbon dioxide in thousand
cubic feet at a pressure base of fifteen and twenty-five thousandths pounds per square
inch.