The Department of the Interior announced the Bureau of Land Management New Mexico State Office leased 16 parcels totaling 7,501.76 acres for $58,260,939 in total receipts for its quarterly oil and gas lease sale. This is the third highest value for highest bid/acre for a parcel for BLM. The combined bonus bids and rentals from the leases will be distributed between the federal government and the State of New Mexico.
This lease sale is the first conducted under the One Big Beautiful Bill Act, which reset the royalty rate for new federal onshore oil and gas production to a minimum of 12.5%, reversing the 16.67% rate set by the Biden administration. By lowering the federal onshore royalty rate from 16.67% to 12.5%, President Donald J. Trump’s One Big Beautiful Bill Act reduced the cost of doing business on public lands, making oil and gas development more economically attractive to industry. This is expected to spur additional leasing and drilling activity, which in turn supports increased domestic energy production and strengthens U.S. energy security.
'This successful lease sale is another strong step toward restoring American Energy Dominance,' said Secretary of the Interior Doug Burgum. 'By reversing burdensome Biden-era royalty hikes, we are unleashing the full potential of our public lands, lowering energy costs for hardworking Americans and strengthening our national and economic security. Under President Trump’s leadership, we are putting energy back in the hands of the American people and securing a brighter, more prosperous future.'
Oil and gas lease sales support domestic energy production and American energy independence, while contributing to the nation’s economic and military security. Consistent with Executive Order 14154, 'Unleashing American Energy,' the BLM's lease sales help meet the energy needs of U.S. citizens and solidify the nation as a global energy leader long into the future.
Leasing is the first step in the process to develop federal oil and gas resources. The BLM ensures oil and gas development meets the requirements set forth by the National Environmental Policy Act of 1969 and other applicable legal authorities.
Oil and gas leases are awarded for a term of 10 years and as long thereafter as there is production of oil and gas in paying quantities. Information on current and upcoming BLM leases is available through the National Fluid Lease Sale System.
BLM lease sales are held online through EnergyNet. Results are available on the National Fluid Lease Sale System. After navigating to the page, filter to the sale, and select the action 'View Sale Documents' to view the sale results.
Source: US Department of the Interior
