Officials from the Santa Fe office of U.S. Bureau of Land Management said last week BLM received $34,414,251 in high bids from its most recent lease sale in New Mexico and Kansas. BLM offered 19 parcels covering 3,128 acres in the two states; 451 bids were received for 14 parcels covering 2,768 acres – 88.5 percent of total acreage available.
Royalty rate for production on new leases is 16.67 percent divided between the state and the U.S. treasury.