Federal Register #NMNM141446

Proposed Reinstatement of BLM New Mexico Oil and Gas Lease NMNM141446

This notice from the Bureau of Land Management (BLM) in New Mexico addresses the proposed reinstatement of a previously terminated oil and gas lease: - Government Buyer: - Bureau of Land Management (BLM), Department of the Interior - New Mexico State Office - Lease Details: - Lease Number: NMNM141446 - Location: Eddy County, New Mexico - Lessee: Federal Abstract Company - Requirements and Terms: - Lessee has petitioned for reinstatement and paid all required rental fees - New lease terms include: - Increased rental rate: $20 per acre per year - Royalty rate: 16.67 percent - Lease reinstated for the remainder of its primary term - Subject to original and amended lease terms and conditions - Notable Information: - No new leases have been issued affecting these lands - This is not a procurement opportunity; no products or services are requested - No OEMs or vendors are involved in this notice

Description

The Bureau of Land Management (BLM) received a petition for reinstatement of the terminated competitive oil and gas lease NMNM141446 from Federal Abstract Company, the lessee. The lease is located in Eddy County, New Mexico. The lessee paid the required rental from the date of termination and agreed to new lease terms including increased rental and royalty rates. The BLM proposes to reinstate the lease effective January 1, 2022, for the remainder of the primary term, subject to original and amended lease terms and conditions.

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