New Mexico Oil And Natural Gas Lease Sale Brings In $3.85 Million This Month

This month's oil and natural gas lease sale has netted $3.85 million for the New Mexico Land Office.

The 29 parcels that were offered for lease in November were located in Lea, Eddy, San Juan and Chaves counties. The highest bid of $930,000 came from Ronald Miles of Roswell for 304 acres in Lea County.

The bids earned from the sale go directly to trust beneficiaries that include public schools, hospitals and universities.

The next lease sale will be Dec. 18 in Santa Fe.

Copyright 2012 The Associated Press.