BLM land sales in New Mexico generated $14.6 million

Apr 24, 2019 12:11 PM

KallanishEnergy | April 4, 2019

The Bureau of Land Management raised $15.39 million in its quarterly oil and natural gas lease sale held March 28, in New Mexico and Oklahoma, Kallanish Energy reports.

The federal agency offered leases on 45 parcels covering 13,888 acres. The highest bid per acre was $40,411 sold to XTO Holdings LLC for 80 acres in Eddy County, New Mexico. Those same 80 acres produced the highest bid per parcel: $3.23 million.

Nearly 50% of the money raised goes to the states, with the remainder going to the federal treasury.

In other lease sales, the BLM raised $13,872 for five parcels covering 1,055 acres in Colorado, $2.08 million for 99 parcels covering 62,381 acres in Montana, and $6.98 million for 90 parcels covering 135,123 acres in Utah.

Those sales have all been held in the last two weeks.

In other news, the BLM said it's seeking public scoping comments on 78,692 acres of public land in Colorado for the September 2019 competitive lease sale.

The 83 parcels of public lands are in Routt, Garfield, Rio Blanco, Jackson, Kiowa, Cheyenne and Weld counties.

The agency is seeking public comment before beginning an environmental analysis of the proposed lease sale lands. Lands with greater-sage grouse habitat must comply with new federal rules impacting the birds.

The public scoping ends April 16. Colorado gets 48% of federal lease sale proceeds. More details are available at the agency’s ePlanning website.