Alva Review-Courier -

New Mexico marks record for monthly oil and gas lease sale


November 23, 2018

SANTA FE, N.M. (AP) — The State Land Office has set a record for its monthly oil and gas lease sale, generating more than $43 million for public schools and other trust land beneficiaries as the oil boom continues in New Mexico.

The November sale represents the highest single-month yield in the agency's history. The previous record of just over $30 million was set in July 2017.

Land Commissioner Aubrey Dunn said in a statement issued Tuesday that he was expecting a good month but was surprised by the outcome. He said it will help with the goal of generating $1 billion in revenues for the...

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