New Mexico Statutes Chapter 7. Taxation § 7-32-2. Definitions

A. “commission”, “department” or “division” 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 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 Ad Valorem Production 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:

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 Ad Valorem Production 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. “assessed value” means the value against which tax rates are applied;

K. “tax” means the oil and gas ad valorem production tax; and

L. “volume” means the quantity of product severed reported using: