BLM Eyes Revival of New Mexico Oil Lease
Published Date: 8/6/2026
Notice
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 lease NMNM142036 from Petro-Quest Oil & Gas, LP (lessee). The lessee timely filed a petition for reinstatement of the competitive oil and gas lease located in Eddy County, New Mexico. The lessee paid the required rental accruing from the date of termination. No leases have been issued that affect these lands. The BLM proposes to reinstate the lease.
Analyzed Economic Effects
1 provisions identified: 1 benefits, 0 costs, 0 mixed.
Reinstated NM Oil & Gas Lease With New Terms
The Bureau of Land Management proposes to reinstate oil and gas lease NMNM142036 to Petro-Quest Oil & Gas, LP effective October 1, 2024 for the remainder of the primary term. The reinstated lease is subject to a rental of $20 per acre per year and a royalty rate of 16.67 percent; the lessee paid required rental from the date of termination, an administration fee, and reimbursed the BLM for publishing costs.
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