SANTA FE, NM – The State Land Office held their monthly online oil and gas lease sales, raising $4.9 million for New Mexico schools, hospitals, and colleges. 24 tracts of land were offered, 22 of which were closed for bid. Closed bids included 4,285 acres in Chaves, Lea, and Eddy counties. The aggregate bid amounted to an average per-acre price of $1,444.56.
“With each monthly lease sale since I took office, we continue to uphold our constitutional obligation to fund our schools, hospitals, and colleges. Our partnerships with the companies seeking to lease our state trust land is strong, and I look forward to continuing those relationships as we seek to raise as much money for our kids as possible,” Commissioner Garcia Richard stated.