State Land Office Royalty Audit Collections Up 47% in 2019

Since assuming office in January, Commissioner Garcia Richard has been working to enhance the auditing capacity at the State Land Office.  The Royalty Management Division is tasked with auditing 85% of Land Office royalty revenue every five years.

State Land Office: March Lease Sales Generate Nearly $5 Million

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State Land Office: March Lease Sales Generate Nearly $5 Million

State Lands are Open for Business

SANTA FE, NM – The State Land Office held their monthly online oil and gas lease sales, raising $4.9 million for New Mexico schools, hospitals, and colleges. 24 tracts of land were offered, 22 of which were closed for bid. Closed bids included 4,285 acres in Chaves, Lea, and Eddy counties. The aggregate bid amounted to an average per-acre price of $1,444.56.