SANTA FE, New Mexico — April's oil and natural gas lease sale has netted more than $2.1 million for state trust land beneficiaries.
The New Mexico Land Office says a dozen tracts totaling more than 3,500 acres were leased.
The highest sealed bid of $480,160 for 160 acres in southeastern New Mexico's Eddy County came from Chase Oil Corp. of Artesia.
The highest oral bid of $840,000 was submitted by Yates Petroleum for 320 acres in Lea County.
The revenue raised by the monthly sales benefit public schools, universities and hospitals.