BLM oil, gas lease in New Mexico and 3 other states nets more than $20 million

BLM oil, gas lease nets more than $20 million

SANTA FE, N.M. — The Bureau of Land Management’s quarterly oil and gas lease sale has netted nearly $20.4 million for 34 federal leases in New Mexico, Oklahoma, Texas and Kansas.

Fifty-two percent of the revenue from leases goes to the U.S. government, with the rest going to the state where the mineral lease is located.

The BLM says will receive $635,902.08 from Wednesday’s sale.

The agency says bids for 13 parcels in Texas brought in over $18.8 million, while bids for 11 New Mexico parcels brought in more than $1.3 million.

Nine parcels in Oklahoma brought more than $161,000. A single tract in Kansas sold for $2,400.