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BLM completes lease sale, plans another in November

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The New Mexico division of the U.S. Bureau of Land Management raised $9.84 million at its quarterly oil and gas lease sale and has announced plans for a November sale of leases for another 7,619 acres of mineral rights.

The Thursday sale involved 15 parcels totaling 3,174.08 acres, according to a BLM announcement made that day. Almost 50% of the revenue from the sale will go to the states where the oil and gas activity occurs, in this case, New Mexico, Kansas and Oklahoma. The rest will go to the U.S. Treasury.

The highest bid per acre was $31,001 made by Cimarex Energy Co. of Denver, Colorado, for 40 acres in Lea County. The highest bid per parcel was a total of $3,176,397 for 396.68 acres in Lea County made by Platform Energy III LLC of Abilene, Texas.

In a separate announcement Friday, the BLM notified the public of its intentions regarding a Nov. 7 oil and gas lease sale. The agency plans to lease mineral rights on 16 parcels totaling about 7,619.46 acres and involving parcels in New Mexico and Oklahoma. The New Mexico parcels are in Eddy, Lea and Sandoval counties. The sale would occur online at energynet.com.

The notice starts a 10-day protest period that runs Monday through Sept. 18.

More information is on the BLM website, blm.gov.