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The New Mexico Bureau of Land Management's Oil and Gas Lease Sale originally scheduled for July 20, 2016, has been rescheduled to September 1, 2016, in order to ensure adequate public notice. The location of the sale will remain in Roswell, New Mexico. The parcels to be considered in the sale are located in Southeast New Mexico and the Roswell location will allow the public in the area to have the opportunity to observe the process. A total of 36 parcels will be offered containing 13,876 subsurface acres of Federal minerals - 6 parcels in Eddy County for 1,232 acres and 30 parcels in Lea County for 12,644 acres. The oral auction will take place at the Roswell Convention and Civic Center, 912 North Main Street, Roswell, New Mexico. The sale will begin promptly at 9 a.m. Only oral bids offered at the sale will be accepted. Parcels will be awarded to qualified bidders offering the highest acceptable bid. The minimum acceptable bid is $2 per acre. The lease sale notice can be found at: http://www.blm.gov/nm/st/en/prog/energy/oil_and_gas/lease_sale_notices/2016_lease_sales/july_2016_lease_sale.html Leases are awarded for a period of 10 years, so long as oil and gas is being produced in paying quantities from the lease. The revenue from the sale of Federal leases, as well as any royalties collected from the production of those leases, is shared between the Federal Government and the State in which the lease is located - fifty-two percent goes to the Federal Treasury and 48 percent is returned to the state.