BLM Brings In $22M In Latest Oil, Gas Lease Sale

Jul 19, 2013

The Bureau of Land Management's oil and natural gas lease sale for dozens of parcels in New Mexico, Oklahoma, Texas and Kansas has netted more than $22 million.

A total of 64 federal leases in the four states were up for grabs during this week's sale in Santa Fe.

The federal leases are awarded for 10 years and for as long thereafter as there is production in paying quantities. The revenues and royalties collected from the leases are shared between the federal government and the states.

BLM officials say that over the last decade, New Mexico has received more than $4 billion from energy production on BLM-managed federal leases. That money has gone to publicĀ education.

The next lease sale is scheduled for October.

Copyright 2013 TheĀ Associated Press.