BLM holds August 2024 sale for Texas oil and gas leases
Media Contact
SANTA FE, NM – The Bureau of Land Management New Mexico State Office held a competitive oil and gas lease sale, offering four parcels covering 6,972 acres in Texas. In total, four bids were received, with four parcels covering 6,972 acres leased, 100 percent of the total acreage available. A total of $61,044,916 in high bids were received.
The environmental assessment, maps, parcel lists, Notice of Competitive Lease Sale and proposed lease stipulations are available online at the BLM’s ePlanning website at: https://eplanning.blm.gov/eplanning-ui/project/2027060/510.
The terms of federal fluid mineral leases will be consistent with the Fluid Minerals Leasing and Leasing Process Rule, which reflects Congressional direction from the Inflation Reduction Act and the Bipartisan Infrastructure Law, including a 16.67 percent royalty rate for production on any new leases. Revenues are split between the state where the drilling occurs and the U.S. Treasury.
Leasing is the first step in the process to develop federal oil and gas resources. Before development operations can begin, an operator must submit an application for permit to drill detailing development plans. The BLM reviews applications for permits to drill, posts them for public review, conducts an environmental analysis and coordinates with state partners and stakeholders.
All parcels leased for oil and gas lease include appropriate stipulations to protect important natural resources. Information on current and upcoming BLM leases is available through the National Fluid Lease Sale System.
The BLM manages more than 245 million acres of public land located primarily in 12 western states, including Alaska, on behalf of the American people. The BLM also administers 700 million acres of sub-surface mineral estate throughout the nation. Our mission is to sustain the health, diversity, and productivity of America’s public lands for the use and enjoyment of present and future generations.