Oil and gas lease sale brings $2.1M to New Mexico

Last month’s oil and natural gas lease sale has netted over $2.1 million dollars for state trust land beneficiaries.

The New Mexico Land Office reports the leasing of a dozen tracts totaling over 3,500 acres.

The highest sealed bid of $480,160 for 160 acres in Eddy County came from Chase Oil of Artesia.

The revenue from these sales helps public schools, universities, and hospitals.