New Mexico sees record oil leases (again)

An oil and gas lease sale netted the state’s general fund nearly half a billion dollars.

The U.S. Department of the Interior announced last week that the U.S. Bureau of Land Management’s Carlsbad Field Office auctioned off 142 land parcels in surrounding counties over a two-day period, which generated $972.8 million. Of that amount, 48 percent of the revenue, $466 million, will go to the state, with the remaining revenue going to the federal government.

The sale alone surpassed the BLM’s 2017…

Source: The Business Journal