Bureau of Land Management sets oil, gas lease sale in New Mexico for Wednesday

BLM sets lease sale in New Mexico for Wednesday

SANTA FE, N.M. — The Bureau of Land Management plans an oil and gas lease sale on federal lands in New Mexico and three other states on Wednesday.

The sale of oil and gas mineral rights will take place at the BLM office in Santa Fe.

The minimum bid is $2 an acre.

Leases will be awarded for 10 years or for as long afterward that there is production in paying quantities.

New Mexico has the most land in the sale — 18 parcels totaling more than 12,750 acres.

Some 14 parcels will be offered in Texas, eight in Oklahoma and one in Kansas.