🛢️BLM Proposes Reinstatement of Oil and Gas Leases in New Mexico
Proposed Reinstatement of BLM New Mexico Terminated Oil and Gas Leases: NMNM 134884; NMNM 134885; NMNM 141886
Summary
In accordance with the Mineral Leasing Act of 1920, as amended, the Bureau of Land Management (BLM) received a petition for reinstatement of terminated competitive oil and gas leases from Blackbeard Operating, LLC (NMNM 134884, NMNM 134885; serial numbers NMNM105373864 and NMNM105373865, respectively) and EOG Resources (NMNM 141886; serial number NMNM105517491). The lessee timely filed petitions for reinstatement of competitive oil and gas leases located in Eddy and Lea counties, New Mexico. The lessees paid the required rentals accruing from the date of termination. No leases have been issued that affect these lands. The BLM proposes to reinstate the leases.
Agencies
- Interior Department
- Land Management Bureau
Business Impact
$$ - Med
The notice regarding the proposed reinstatement of terminated oil and gas leases indicates compliance and regulatory requirements related to mineral leasing. Business owners, especially in the oil and gas sector, should be aware of the new rental rates and royalty structure, which could significantly affect financial planning.