From April through June, the Bureau of Land Management (BLM) leased 389 parcels containing 355,456 acres of federal land for oil and gas development in Colorado, Nevada, New Mexico, North Dakota, Utah, South Dakota, Texas, and Wyoming.

Federal taxpayers own mineral resources across the United States, including a 700-million-acre onshore subsurface mineral estate. The federal government manages the development of publicly owned oil and gas by leasing land to private companies to extract resources and sell them for profit.

In total, 638,476 acres have been offered for lease this year across 14 states, a substantial increase from the average acreage offered over the previous five years. While expanded leasing contributed to higher bid revenue, nearly all of that increase came from a single lease sale in New Mexico. The broader trend remained unchanged. Lower royalty rates will reduce future returns to taxpayers but have not increased industry interest or bidding on their own.

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