YATES PETROLEUM CONFLICT OF INTERESTS IN THE STATE LAND OFFICE
DESERVES INVESTIGATION Jack Yates, employee of the NM State Land Office, is now in charge of minerals, oil and gas Leases.
The Pump jack that was installed in front of the State land Office is a donation to the State of New Mexico By the Yates Family Foundation.
"After a couple of dry wells nearly sent his partners packing in 1907, New Mexico wildcatter Martin Yates Jr. decided to take one last shot at striking oil. With help from his wife, Mary, who selected the site, Yates' third well, the Illinois State #3, became the first successful well in southeast New Mexico. The family has been on a hot streak ever since. The Yates operate more than half a dozen independent companies, some of which are direct competitors. Its flagship business, and the source of most of its money, is Yates Petroleum Corporation, reportedly one of the nation's 10 biggest privately held oil and gas producers. The family considered selling the company in 2012, but decided against it on the grounds that the $3 billion offers that the firm attracted were too low. This was before the global rout in oil prices that sent valuations into a nosedive."-- FORBES MAGAZINE
yet this year they cut their losses and settled for a measely 2.5 Billion. The Oligrachy is alive a well in NM.
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