BLM oil and gas lease sale in New Mexico, Oklahoma generates large revenue

The Bureau of Land Management leased 31 parcels totaling 20,399 acres in New Mexico and Oklahoma for $326,811,240 in total receipts during a quarterly oil and gas lease sale. Combined lease bonus bids and rentals are distributed between the federal government and state where parcels are located.“This sale brought in over $218,751 for a single acre, the highest ever earned during a BLM ...