Devon Energy top bidder in auction of Permian Basin land


A Bureau of Land Management sale of public land in New Mexico and Kansas to oil and gas operators netted nearly $34 million and Oklahoma City’s Devon Energy was the largest bidder for some of the land in the Permian Basin.

Devon acquired a 480-acre tract of land in Lea County in a bid of $16.8 million, the most paid by any one energy firm.

The Federal Abstract Company paid nearly $6.5 million for a quarter-section of land in Lea County while R&R Royalty offered $3.5 million for 80-acres, also in Lea County, New Mexico.

The Carlsbad Current-Argus reported Pride Energy paid $3.2 million for 200 and 400 acre tracts of land in Eddy County.

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