The US Bureau of Land Management (BLM) leased 31 parcels totaling 20,399 acres in New Mexico and Oklahoma for $326.8 million in total receipts during a quarterly oil and gas lease sale.
The US Bureau of Land Management (BLM) leased 31 parcels totaling 20,399 acres in New Mexico and Oklahoma for $326.8 million in total receipts during a quarterly oil and gas lease sale.
Combined lease bonus bids and rentals are distributed between the federal government and the state where the parcels are located.
“This sale brought in over $218,751 for a single acre, the highest ever earned during a BLM competitive oil and gas lease sale since at least the 1987 Leasing Reform Act, and shows the bureau's ongoing commitment to fulfill President Trump’s mandate to unleash American energy,” Acting BLM Director Bill Groffy said in a statement. “This sale is also the second highest for total bonus bids received at over $316 million and third highest for both bid on a single parcel at over $70 million and average bid per acre at over $16,000.”
Oil and gas leases are awarded for a term of 10 years and as long thereafter as oil and gas are produced in paying quantities and hold a 12.5% royalty rate.
Cathy Landry has worked over 20 years as a journalist, including 17 years as an energy reporter with Platts News Service (now S&P Global) in Washington and London.
She has served as a wire-service reporter, general news and sports reporter for local newspapers and a feature writer for association and company publications.
Cathy has deep public policy experience, having worked 15 years in Washington energy circles.
She earned a master’s degree in government from The Johns Hopkins University and studied newspaper journalism and psychology at Syracuse University.
