Received 14 bids, sold leases on 88.5 % of lands offered
SANTA FE, N.M. The Bureau of Land Management New Mexico State Office held a competitive oil and gas lease sale, offering 19 parcels covering 3,128 acres in New Mexico and Kansas. In total, 451 bids were received, with 14 parcels covering 2,768 acres leased, roughly 88.5 percent of the total acreage available. A total of $34,414,251 in high bids were received.
The environmental assessment, maps, parcel lists, Notice of Competitive Lease Sale and proposed lease stipulations are available online at the BLM's ePlanning website at: https://eplanning.blm.gov/eplanning-ui/project/2025795/570 .
The terms of federal fluid mineral leases will be consistent with the Fluid Minerals Leasing and Leasing Process Rule, which reflects Congressional direction from the Inflation Reduction Actt and theBipartisan Infrastructure Law, including a 16.67 percent royalty rate for production on any new leases. Revenues are split between the state where the drilling occurs and the U.S. Treasury.
Leasing is the first step in the process to develop federal oil and gas resources. Before development operations can begin, an operator must submit an application for permit to drill detailing development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis and coordinates with state partners and stakeholders.
All parcels leased for oil and gas lease include appropriate stipulations to protect important natural resources. Information on current and upcoming BLM leases is available through the National Fluid Lease Sale System.
