N.M. Stat. § 70-6-3
Acquisition of lands for purposes of underground natural
gas storage; lands controlled by public body, executor,
administrator, guardian, receiver or trustee.
Any natural gas company desiring to make use of a formation or stratum as a
reservoir for the underground storage of natural gas shall attempt to acquire by option,
lease, conveyance or other negotiated means, such formation or stratum prior to
resorting to the exercise of the power of eminent domain as hereinafter granted. Any
public body and any executor, administrator, guardian, receiver or trustee shall be
authorized to grant to any such natural gas company rights for underground storage of
natural gas in lands subject to its or his control in the same manner as provided by law
for entering into oil and gas leases, or if any such public body, executor, administrator,
guardian, receiver or trustee shall not be specifically authorized by law to make oil and
gas leases, then in the manner provided by law for lease by such public body, executor,
administrator, guardian, receiver or trustee of interests in land, or if any such public
body, executor, administrator, guardian, receiver or trustee shall not be specifically
authorized by law to make oil and gas leases or leases for interests in land, then in the
manner provided by law for the sale by such public body, executor, administrator,
guardian, receiver or trustee of interests in land.