NM Land Of­fice sets lease rev­enue record

Albuquerque Journal - - BUSINESS - JOUR­NAL AND WIRE RE­PORTS

SANTA FE — The State Land Of­fice has set a new an­nual rev­enue record for oil and gas leases, and it still has one month to go be­fore the end of the fis­cal year.

The May lease sale gen­er­ated more than $5.4 mil­lion, bring­ing the FY 2018 to­tal to $102.2 mil­lion, ac­cord­ing to a news re­lease from the of­fice.

The pre­vi­ous sin­gle-year record, set in 2012, was just un­der $102 mil­lion.

Oil and gas ac­tiv­ity in south­east New Mex­ico has boomed over the past year, mak­ing it one of the fastest-grow­ing oil patches in the coun­try.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.