The U.S. Bureau of Land Management (BLM) reported that its latest quarterly oil and gas lease sale resulted in 31 parcels being leased across New Mexico and Oklahoma, covering 20,399 acres and generating $326,811,240 in total receipts. The agency said the proceeds—made up of lease bonus bids and rentals—are split between the federal government and the states where the parcels are located.
BLM said the sale set a new benchmark for a single-acre bid (more than $218,751) and ranked among the highest on record for total bonus bids (over $316 million). The agency also cited a top bid on an individual parcel of more than $70 million and an average bid exceeding $16,000 per acre. BLM noted the sale was held under the One Big Beautiful Bill Act, which set a minimum 12.5% royalty rate for new federal onshore production, replacing the 16.67% rate established under the Inflation Reduction Act—an update the agency said could improve project economics and support additional leasing activity. Leases are issued for 10 years and can continue as long as production remains in paying quantities; results are posted through BLM’s online leasing systems. For additional context, see Ranger’s overview of federal vs. private oil and gas leasing and how oil and gas royalties work.
Source: Bureau of Land Management
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