Happy Monday! Welcome back to another week of ESC News Blog! We hope you enjoyed the lovely weather which rolled in this afternoon!
We
try to keep up on the oil and gas lease sales and ever since the change in Administration
the Department of Interior Bureau of Land Management’s newsletter has been
fairly quiet. Thinking about it, so has
the Department of Energy. Well, we
caught a news article on a recent oil and gas lease sale in New Mexico!
Did anyone happen to
read the MSN Feed on February 24, 2025, they had an article
from GlobalData titled, “BLM secures $20.67m from quarterly oil and gas
lease sale”? The article was on the U.S. Bureau of Land Management’s
(BLM) New Mexico Office latest quarterly oil and gas lease sale announced their
proceeds which are $20.67 million. The BLM’s New Mexico Office oil
and gas lease sale were for 7 parcels which spanned approximately 1,317 acres
in New Mexico. The lease sales royalty rate of 16.67% will be shared
by the state where production is located and the US Treasury. The
BLM’s sale is only the first step in developing oil and gas leases and this
sale is helping support the new Administrations Executive Order for “Unleashing
American Energy.” The term of an oil and gas lease is ten years and
may be prolonged as long as the well is producing sufficiently. The BLM’s sales are held online through EnergyNet. If you would like to read more of the
article from GlobalData published on MSN, please click the link:
BLM secures $20.67m from quarterly oil and gas lease sale.
If you would like to learn
more on the BLM’s oil and gas lease sale for federal lands, please click the
link: Sales.
How can we help you reduce
your greenhouse gas emissions on your liquid petroleum product transportation
system? We can help update your emission controls or look to see what is under
your feet to help lower your emissions, contact us via email in the Blog and
check out our ESC website!
We hope you have a wonderful
evening!
**Disclaimer: You may be charged a
fee to read the article on MSN. **