New Mexico collects $65M from monthly lease sales in FY17

SANTA FE, N.M. (AP) — The State Land Office has collected more than $654,000 from its most recent monthly oil and gas lease sale, bringing the total for the fiscal year to more than $65 million.

Agency officials say that is almost double last year’s total of $36 million.

This month, 20 tracts covering almost 9 square miles (23 square kilometers) were initially offered but most ended up being withdrawn.

Roswell-based Manzano LLC and Artesia-based Abo Empire LLC were the winning bidders of the two remaining tracts in Lea County.

Land Commissioner Aubrey Dunn says his office has exceeded budget projections for the fiscal year, noting the interest in New Mexico’s share of the Permian Basin.

Revenues generated from oil, gas and mineral production, grazing and other activities on state trust lands benefit public schools, universities and infrastructure projects.

KRQE.com provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s