Federal oil and gas lease auction in NM and TX generated $4 billion in winning bids, topping previous records.
Sale covered 74 parcels totaling 33,530 acres, primarily in New Mexico’s Permian basin, the nation’s most productive field.
Interior Department said the auction shows strong industry demand amid Iran‑war‑driven supply cuts and higher U.S. crude demand.
Prior onshore record was $972 million in 2018, set by the Bureau of Land Management.