us-nm/stat
NMSA 1978, § 7-31-6 — Value may be determined by department; standard
A.
The department may determine the value of products severed from a production
unit when:
(1) the operator and purchaser are affiliated persons;
(2) the sale and purchase of products is not an arm's length transaction; or
(3) products are severed and removed from a production unit and a value as
defined in the Oil and Gas Emergency School Tax Act is not established for such
products.
B.
The value determined by the department shall be commensurate with the actual
price received for products of like quality, character and use which are severed in the
same field or area.
Source: official text