Oil and gas lease sale nets $8M for New Mexico, other states
August 30, 2020
SANTA FE, N.M. (AP) — The latest quarterly oil and gas lease sale for dozens of parcels in New Mexico, Oklahoma and Texas netted more than $8.2 million, federal land managers said.
The Bureau of Land Management reported Friday that nearly half of the revenues earned from this week's sale will go to the states where the leases are located. The funds are often used for infrastructure projects, law enforcement and other government programs.
In all, 113 parcels totaling more than 76 square miles (197 square kilometers) were offered. The highest bid per acre topped $21,500 with the lease of...