Published: 3:50 pm, Wed. Apr. 18th, 2018Updated: 3:50 pm
With only two months left in the current fiscal year, the New Mexico State Land Office reported revenue through April’s online oil and gas lease sale topped $96.5 million – a 39-percent jump over 2017’s total of $65,266,469.
Tuesday’s online auction of 2,078 acres attracted 18 bidders from six states and generated $1.5 million.
Dakota Resources was the April auction’s big winner. The West Texas-based oil company bid $1,306,000 and secured leases on nearly 1,800 acres in Lea, Eddy and Chaves counties.
The University of New Mexico will receive $1,178,751; public schools will get $295,000.
Commissioner of Public Lands Aubrey Dunn said the land office will host a sale of mineral leases April 18 for tracts of land located in Eddy, Grant, Hidalgo, Luna, McKinley, Sierra and Socorro counties.