The State Land Office has had its second-best auction of oil and gas leases this month, capping what State Land Commissioner Stephanie Garcia Richard described as a "three-month haul."

One tract in Eddy County sold for $175,000 per acre, breaking the office's previous record of $132,552 per acre — which set a nationwide record in August.

The bucks don't stop there; eight of the 11 leases auctioned this month were leased under a higher royalty rate, thanks to a bill adopted by the New Mexico Legislature earlier this year. The legislation increased the rate to a maximum 25% for prime tracts, up from 20%.

At this month's auction, the office brought in $117 million in one-time bonus payments, which are paid for the right to obtain a lease of state land.

In July, the monthly auction brought

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