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Home News-Telegram News National News BLM offers parcels for oil and gas lease sale

BLM offers parcels for oil and gas lease sale

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SANTA FE, N.M. (AP) — The Bureau of Land Management says it will offer oil and gas leasing mineral rights on parcels totaling more than 42,000 acres in New Mexico, Oklahoma, Texas and Kansas at its next lease sale.

The oral auction will be Wednesday in Santa Fe.

Parcels will be awarded to qualified bidders offering the highest acceptable bid. The minimum acceptable bid is $2 per acre.

Most of the parcels are in New Mexico. Texas and Oklahoma each have five parcels and Kansas has one.

The federal government receives more than 12 percent royalties on production on the leases. The state in which the leasing occurs receives 48 percent of royalties collected.

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