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Nearly half a billion dollars in fresh money is headed to New Mexico state coffers after a record-breaking oil and gas lease sale this week by the U.S. Bureau of Land Management’s Carlsbad Field Office.
The two-day, online auction generated $972.8 million in bonus bids for 142 parcels in Eddy, Lea and Chaves counties, breaking all records for BLM lease sales across the nation, according to the agency.
The amount generated is nearly three times the $358 million the BLM earned from all sales nationwide last year, and more than two times the agency’s record year for lease-sale income in 2008, when it earned $408.6 million.
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