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New Mexico nets $13M in monthly oil and gas lease sale

December 19, 2018

SANTA FE, N.M. (AP) — New Mexico has netted more than $13 million from this month’s oil and gas lease sale.

The State Land Office says most of the proceeds from the December sale will go to public schools and the rest to other state trust land beneficiaries.

Land Commissioner Aubrey Dunn says the office has generated nearly $100 million from lease sales over the past six months and that he’s proud of the work his team has done in recent years.

Dunn’s term wraps up at the end of the year. He’ll be succeeded by Democrat Stephanie Garcia Richard, the first woman to hold the office.

A total of 31 tracts were offered in this month’s sale. The parcels covered more than 8 square miles (21 square kilometers) in Lea and Eddy counties.

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