BLM leased 74 parcels across 33,530 acres as Trump administration promotes expanded domestic energy production

Organ Mountain News report

SANTA FE - A federal oil and gas lease sale in New Mexico and Texas generated more than $4 billion in total receipts, according to the U.S. Department of the Interior.

The Bureau of Land Management leased 74 parcels covering 33,530 acres during the quarterly lease sale, with bonus bids and rental payments totaling about $4.01 billion.

Revenue from the lease sales will be shared between the federal government and the states where the parcels are located.

“America is sitting on some of the richest energy resources in the world, and President Donald J. Trump is committed to putting those resources to work for the American people,” Interior Secretary Doug Burgum said in a statement.

The Interior Department said the lease sale aligns with President Donald Trump’s “American Energy Dominance Agenda” and Executive Order 14154, titled “Unleashing American Energy.”

Federal officials said the sale was conducted under the Working Families Tax Cuts Act, which lowered the federal royalty rate for new onshore oil and gas production from 16.67% to 12.5%.

The department said the lower royalty rate is intended to reduce costs for energy producers and encourage additional investment, leasing and drilling activity across the West.

Officials said oil and gas leasing on federal lands supports domestic energy production, manufacturing, transportation and national defense while helping stabilize energy costs.

The Interior Department said lease sales remain subject to the National Environmental Policy Act and other federal laws.

Federal oil and gas leases are issued for 10-year terms and remain active as long as production continues in paying quantities.