Published: 1:08 pm, Wed. Nov. 16th, 2016Updated: 1:08 pm
New Mexico State Land Commissioner Aubrey Dunn has announced the State Land Office’s November oil and gas lease sale generated a total of $8,432,850 for state trust beneficiaries.
Last month’s sale brought in nearly $14 million. The online component of the sale made up the majority of the total bringing in $7,538,850. The onsite portion of the sale generated $894,000.
“This is the third month the Land Office has held both online and on-site sales. This new approach is increasing the number of bidders and resulting in a more competitive and successful sale – meaning more money to New Mexico’s public schoolchildren,” said Dunn.
A total of 27 tracts located in Lea and Rio Arriba Counties were offered for sale. The highest online tract, in October and in the November sale, was won by Ascent Energy, LLC, for a 311.87-acre tract in Lea County for $5,149,788.13. The highest onsite tract was a 160-acre tract also located in Lea County won by Doug J. Schutz for $210,000.