New Mexico’s State Land
Office brought in a record $43.3
million during its November oil and
gas lease sale. A total of 35 tracts
covering 7,969 acres in Lea, Chaves
and McKinley counties were offered
and all but one were leased. A total of
32 bidders summitted offers and the
sale brought in an average of $5,431
per acre. Percheron Energy was the
high bidder, picking up 1,999 acres
for ~$26......
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