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Although much is known about how single neurons in the hippocampus represent an animal's position, how circuit interactions contribute to spatial coding is less well understood. Using a novel statistical estimator and theoretical modeling, both developed in the framework of maximum entropy models, we reveal highly structured CA1 cell-cell interactions in male rats during open field exploration. The statistics of these interactions depend on whether the animal is in a familiar or novel environment. In both conditions the circuit interactions optimize the encoding of spatial information, but for regimes that differ in the informativeness of their spatial inputs. This structure facilitates linear decodability, making the information easy to read out by downstream circuits. Overall, our findings suggest that the efficient coding hypothesis is not only applicable to individual neuron properties in the sensory periphery, but also to neural interactions in the central brain. SIGNIFICANCE STATEMENTLocal circuit interactions play a key role in neural computation and are dynamically shaped by experience. However, measuring and assessing their effects during behavior remains a challenge. Here, we combine techniques from statistical physics and machine learning to develop new tools for determining the effects of local network interactions on neural population activity. This approach reveals highly structured local interactions between hippocampal neurons, which make the neural code more precise and easier to read out by downstream circuits, across different levels of experience. More generally, the novel combination of theory and data analysis in the framework of maximum entropy models enables traditional neural coding questions to be asked in naturalistic settings.