Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Mineral Leasing topic
No spam. Unsubscribe anytime.
Minerals Management reports $8.32 million in high bids in March oil and gas lease sale
Summary
The March 25, 2026 oil and gas lease sale generated $8,322,441.76 in high-bid bonuses across 4,965.75 net acres, with an average price per acre of $1,675.97 and 105 total bids received, the Minerals Management Division reported to the Commissioners.
The Minerals Management Division reported results of the March 25, 2026 oil and gas lease sale, stating total bonus high bids of $8,322,441.76 across 4,965.75 net acres and an average price per acre of $1,675.97. Staff reported 76 tracts were offered, 105 bids were received, 60 tracts received high bids and 16 tracts received no bids. The tabulation included multi-tract high bids across Beckham, Caddo, Roger Mills and other counties, with the highest per-acre bid noted at $5,513.00 on a Roger Mills tract.
The division also presented assignment approvals for multiple leases to entities including XTO CT TXOK NEWMEX, LLC and Walter Duncan Oil LLC, and listed seismic exploration permits and permit fees for companies such as Continental Resources, Inc. Minerals Management staff emphasized the auction results as a contributor to potential record distributions for the CLO in FY26.
