U.S. Government’s Oil & Gas Lease Sales Attract Weak Bidding

The United States government oil and gas lease sale in the last five months kicks off, attracting weak bidding from oil producers in New Mexico as compared to the pre-crisis times.

  • The 2,800-acre sale of oil and gas prospects was the first by the Trump Administration since the beginning of the lockdown in March 2020.
  • The auction would now witness another follow-up sale of 45,000 acres in New Mexico and Texas.

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