NM Land Office lease sale brings in $7M

Associated Press

Updated: Aug 27, 2012 9:50 AM

SANTA FE (AP) — The New Mexico State Land Office says this month's sale of oil and natural gas leases brought in nearly $7.4 million.

The August sales included 26 tracts of land that covered more than 8,000 acres. Revenues from the sales go toward public schools, universities and hospitals.

The agency says the highest sealed bid of $466,140 was made by Ronald Miles of Roswell for about 163 acres in Eddy County.

Miles also had the highest oral bid — $2 million for about 640 acres in Lea County.

The next lease sale will be Sept. 18.

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