New Mexico: Oil and gas extraction     • Industry GDP contribution:  $7.1 billion (8.2% of total)     • Industry workforce:  4,711 (0.6% of total)     • 5 yr. Industry GDP change:  +47.7%     • Avg. industry salary:  $104,394     New Mexico, home to two of the nation's largest oil fields, is the sixth largest oil producing state, churning out about 500,000 barrels a day -- more than double its 2009 production levels. The industry's economic output totalled $7.1 billion in 2016, a 47.7% increase from five years prior.     Because oil and gas extraction is the New Mexico's largest industry, the collapse in oil prices that lasted from 2014 through 2016 had broad economic implications for the state. The industry contracted by nearly 10% in the state from 2015 to 2016. Partially as a result, the state's total GDP declined by 0.1% over the same period.
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