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Oil, Gas Lease Sales Across 3 US States Generate $139 Million in Revenue

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The US Bureau of Land Management has generated around $139.0 million in revenue from a quarterly oil and gas lease sale in New Mexico, Oklahoma, and Texas, according to a statement on Thursday.

BLM said it leased 25 parcels, with a total area of 20,334 acres across the states.

In New Mexico, successful lease sales have so far brought $4.4 billion in revenue this year, about 90% of the total $4.9 billion sales by BLM.

Expanded leasing and drilling activities were supported by the lower royalty rate of 12.5% under the One Big Beautiful Bill, down compared with the 16.67% rate set by the Inflation Reduction Act, according to the statement.

Oil and gas lease sales are subject to a 10-year term, which may be extended, depending on production.

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