BLM Revives Old New Mexico Oil Leases from the Dead
Published Date: 5/4/2026
Notice
Summary
R & R Royalty Ltd asked to bring back two oil and gas leases in New Mexico that were ended before. The Bureau of Land Management says yes, but with new rules: higher rent ($20 per acre) and a 20% royalty. These leases will restart retroactively from July 1, 2021, and last up to two years, giving the company a fresh chance to drill and pay up.
Analyzed Economic Effects
4 provisions identified: 1 benefits, 3 costs, 0 mixed.
BLM reinstates two New Mexico leases
R & R Royalty Ltd successfully had two terminated competitive oil and gas leases (NMNM128371 and NMNM128376) proposed for reinstatement, effective July 1, 2021, for no greater than 2 years. This restores the company’s lease rights on those New Mexico lands under the original and amended lease terms.
Lease rent set at $20 per acre
The reinstated leases carry a rental of $20 per acre, or fraction thereof, per year. That rental amount replaces the prior rental terms for these leases going forward under the reinstatement.
Royalty rate increased to 20%
The reinstated leases include a royalty rate of 20 percent on production. That 20% royalty applies to production under these leases as part of the amended lease terms.
Lessee paid fees and reimbursed BLM
R & R Royalty Ltd paid the required administration fees, reimbursed the Bureau of Land Management for the cost of publishing the notice, and paid rentals that accrued from the date of termination. Those payments were made as part of the reinstatement conditions.
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