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US offers oil and gas drilling rights in first auction since Biden’s IRA

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US offers oil and gas drilling rights in first auction since Biden’s IRA


May 25 (Reuters) – The U.S. on Thursday will hold its first sale of oil and gas drilling rights on federal lands since passage of President Joe Biden’s landmark climate change law, with more than 10,000 acres (40.5 square kilometers) on offer in New Mexico and Kansas.

The federal lease auction is just the second to be held in New Mexico, the nation’s second-largest oil-producing state, since Biden became president in 2021.

Biden’s Interior Department had attempted to suspend federal oil and gas leasing to study its environmental and climate impacts, but the Inflation Reduction Act that passed last year requires some oil and gas auctions if federal rights of way are offered for renewable energy projects.

It is a modest sale, by historical standards, with just 19 parcels on offer on 3,300 acres in New Mexico’s portion of the Permian basin. The auction will include an additional 26 parcels on 6,800 acres in Cheyenne County, Kansas.

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New Mexico crude oil production was about 20 times higher than that of Kansas last year, according to the U.S. Energy Information Administration.

The sale will be conducted by online auction platform EnergyNet beginning at 9:00 am CDT (1400 GMT).

Terms of the sale will reflect new IRA requirements including royalty rates of 16.67%, up from a prior 12.5%, and bids starting at $10 an acre compared with $2 an acre before passage of the law.

The development potential of the parcels in Kansas is estimated to be 1.53 million barrels of oil and 16.66 thousand cubic feet (mcf) of natural gas, according to a U.S. Bureau of Land Management (BLM) sale document.

In New Mexico, the acreage is projected to produce 3.2 million barrels of oil and 18.61 mcf of gas.

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Several environmental groups filed protests that sought cancellation of the sale by BLM. Among other concerns, they said the Biden administration had failed to analyze mitigation efforts to address the impact of greenhouse gas emissions from development of the parcels.

An Interior Department spokesperson would not comment on the protests.

Reporting by Nichola Groom
Editing by Marguerita Choy

Our Standards: The Thomson Reuters Trust Principles.



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New Mexico

Winter storm will bring mountain snow for Christmas

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Winter storm will bring mountain snow for Christmas


A winter storm will pass over Northern New Mexico and deliver some mountain snow on Christmas.

ALBUQUERQUE, N.M. — Dry and seasonably warm weather will continue through early next week.

A winter storm will bring light snow accumulations to the northern mountains Christmas Day and Night and most of the state will see an uptick in wind speeds.

Temperatures will drop a few degrees later in the week, but remain near to slightly above average.

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Another weak winter storm could bring more mountain snow on Friday.

Meteorologist Brandon Richards has your full forecast in the video above.



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New Mexico

Report: Former New Mexico State O-Lineman Louie Canepa to Transfer to Oklahoma State

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Report: Former New Mexico State O-Lineman Louie Canepa to Transfer to Oklahoma State


PORTAL TRACKER

The Cowboys have gained some more transfer talent, this time adding to their rebuilding offensive line.

Louie Canepa, a 6-foout-4, 320-pound interior offensive lineman, is headed to Oklahoma State, according to a report. He spent the last three years at New Mexico State.

Canepa came to New Mexico State as the No. 15 OL prospect from his state, originally hailing from Vintage High School in Napa, California. He appeared in one game as a true freshman but by Year 2 he was instrumental in the Aggies turning in a 10-win season.

As a redshirt freshman in 2023, Canepa played in 14 of the Aggies’ 15 games, starting 10. New Mexico State ranked 14th in rushing yards per game, and made it to the Conference USA Championship Game. In 2024, he appeared in all 12 games and started four at right guard.

At New Mexico State, Canepa played under Andrew Mitchell, who was reportedly hired to coach OSU’s offensive line, along with Cooper Bassett.

Capena is the third offensive lineman the Cowboys have grabbed out of the portal thus far, joining Kasen Carpenter (Tulsa) and Lavaka Taukeiaho (Weber State). There’s a lot of rebuilding to be done in that room with 2024 starters Dalton Cooper, Cole Birmingham, Joe Michalski, Preston Wilson, Jake Springfield and Isaia Glass all leaving the program (the first five through eligibility and Glass through the portal).

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New Mexico

New Mexico OL Transfer LaJuan Owens Commits to Cal

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New Mexico OL Transfer LaJuan Owens Commits to Cal


It was predictable that Cal would go after offensive linemen in the transfer portal, the Bears picked up one on Friday when New Mexico transfer offensive tackle LaJuan Owens announced on social media that he has committed to Cal.

Owens played for Cal’s new offensive line coach Famika Anae at New Mexico so the Bears know what they are getting.

Owens spent his first college season at Tulane, but he redshirted that season before transferring to New Mexico, where he played just one season.  Therefore, the 6-foot-5, 335-pounder has three seasons of college eligibility remaining.

New Mexico’s offensve line was outstanding this season, giving up just five sacks, the fewest in the country.

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