BLM to Hold Federal Oil and Gas Lease Sale on July 16, 2014
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The Bureau of Land Management (BLM) is offering 31 parcels for oil and gas leasing mineral rights on Federal mineral estate for Chavez, Eddy, Guadalupe, and Lea Counties. The 31 parcels include: 9 parcels in Chavez County for a total of 5,760.36 acres, 8 parcels in Eddy County for a total of 2,996.40 acres, 1 parcel in Guadalupe County for 120 acres, and 13 parcels in Lea County for a total of 4,405.25 acres.The oral auction will take place on Wednesday, July 16, 2014, at the BLM New Mexico State Office, 301 Dinosaur Trail, Santa Fe, New Mexico. BLM representatives will be available in the lobby at 8 a.m. to allow each interested party time to obtain a bidding number. The sale will begin promptly at 9 a.m. Only oral bids offered at the sale will be accepted. Parcels will be awarded to qualified bidders offering the highest acceptable bid. The minimum acceptable bid is $2 per acre.The lease sale notice can be found at: http://www.blm.gov/nm/oilandgas (click on Lease Sales on the right side of the page).Leases are awarded for a period of 10 years and as long thereafter as there is production in paying quantities. The revenue from the sale of Federal leases, as well as the 12.5 percent royalties collected from the production of those leases, is shared between the Federal Government and the states. Fifty-two percent of the revenue generated goes to the Federal Government and 48 percent is returned to the state where leasing occurs.
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.