Know Before You Go
This is relatively obscure and remote. It's unlikely you'll encounter other visitors. The drive there includes almost 15 miles of unpaved road.
From Bloomfield, New Mexico, take US 550 south to NM 57. Turn right and take NM 57 for 18.3 miles (the first 4.9 miles are paved) to a small parking area on the right (marked by a sign). The 2-track road is blocked off so follow it on foot to the starting point.
This is Bureau of Land Management land. There are no trails or signs. A good GPS might be helpful in finding your way back to the car. The dirt roads and clay you will be hiking on become very slick when wet, so be mindful of the weather. You are pretty much out in the middle of nowhere (it’s 20 miles to the US highway), and there is no cell coverage. Bring water.
This area is rich in fossils. Regarding collecting, BLM regulations apply. Common invertebrate fossils such as plants, mollusks, and trilobites may be collected for personal use in reasonable quantities. Interestingly, petrified wood up to 25 pounds per person per day may be collected. Cultural artifacts and vertebrate fossils, including dinosaur bones, cannot be taken under any circumstances and must be left in place.