An auction of federal oil and gas leases last week in New Mexico and Texas attracted far less interest from drillers than recent sales, according to Reuters. U.S. Bureau of Land Management sold 93 land parcels (primarily in NM) covering more than 45,000 acres Aug. 27 after a smaller sale of 2,800 acres Aug. 26. Online auction site EnergyNet said average bid for the two-day auction was $169 per acre compared to $1,386 per acre from a sale in February. Reuters said, “The results reflect the weakened state of the industry as it struggles with sharply lower demand and prices.”