New Mexico Land Office Collects $4M in Leases | Homes in ...

There?s no question that there is a lot of money in oil and natural gas. Now, the State of New Mexico is cashing in on the sale of oil and natural gas leases and says they collected nearly $4 million. The State Land Office is in charge of collecting the funds.

In July alone, the Land Office collected $3.9 million from leases that allow for oil and natural gas exploration. Additionally, the leases support the development of 25 tracts covering nearly 8,000 acres of state trust land in Lea, Eddy, Chaves, Roosevelt, Sandoval and San Juan counties.?Recently, an $800,000 bid was received from Energen Resources Corp. of Farmington. Their interest surrounded a 320-acre parcel of land in Lea County.

Oil and natural gas leases are important for Los Lunas home owners and all residents of New Mexico because lease sale proceeds help support public schools, universities and state hospitals.?The next oil and gas lease sale will take place on August 21, 2012 and the Land Office is hoping for another banner month of sales.

During their latest July sale, the highest oral bid came from Crown Oil Partners of Midland, Texas. The company paid $465,000 for 480 acres of land approximately 15 miles from Hobbs, New Mexico. The highest sale per acre was $1,537.50. T. H. McElvain Oil & Gas out of Denver, Colorado?purchased approximately 80 acres also near Hobbs.

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Now is a great time to purchase a Los Lunas home! With all-time low interest rates, it?s an excellent time to consider Los Lunas real estate. We are a local team of real estate agents who would love to help you find the Los Lunas home of your dreams! Please contact us if you?re interested in discussing your unique needs.

Homes in Los Lunas, New Mexico under $450,000 and over $395,000

Showing properties 1 - 5 of 9. See more city of Los Lunas real estate.
(all data current as of 7/28/2012)

1. 4 beds, 2 full, 1 part baths

   Home size: 2,311 sq ft

   Lot size: 1.50 ac

2. 4 beds, 1 full, 2 part baths

   Home size: 2,540 sq ft

   Lot size: 2.00 ac

3. 3 beds, 1 full, 1 part baths

   Home size: 1,865 sq ft

   Lot size: 4.00 ac

4. 4 beds, 2 full, 1 part baths

   Home size: 4,800 sq ft

   Lot size: 2.00 ac

5. 5 beds, 3 full, 1 part baths

   Home size: 3,340 sq ft

   Lot size: 2.70 ac

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Source: http://www.prunm.com/blog/new-mexico-land-office-collects-4m-in-leases/

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