The U.S. Department of Interior has proposed the largest oil and gas lease sale ever held in the United States, which will offer up over 79.9 million acres in federal waters in the Gulf of Mexico, offshore Texas, Louisiana, Mississippi, Alabama and Florida, to oil and gas exploration and development. The proposed region-wide lease sale covers an area about equivalent to … [Read more...]
U.S. to Offer Over 1 Million Acres Offshore Alaska in Upcoming Oil and Gas Lease Sale
The U.S. Bureau of Ocean Energy Management (BOEM) on Friday announced it will offer approximately 1.09 million acres off Alaska’s southcentral coast for oil and gas development in a lease sale scheduled for June. Cook Inlet Oil & Gas Lease Sale 244 will offer 224 blocks toward the northern part of the federal Cook Inlet Planning Area for leasing. The blocks stretch … [Read more...]
Gulf of Mexico Lease Sale Yields $274 Million in High Bids
The U.S. Department of the Interior has announced that Wednesday's lease sale for all available oil and gas parcels in the central Gulf of Mexico yielded over $274 million in high bids. U.S. Secretary of the Interior Ryan Zinke said Lease Sale 247 garnered $274,797,434 in high bids for 163 tracts covering 913,542 acres in the Central Planning Area of the Outer Continental … [Read more...]
Gulf of Mexico Lease Sale Reflects Today’s Depressed Offshore Market
The Department of the Interior’s latest oil and gas lease sale covering nearly 22 million acres in the western Gulf of Mexico drew little interest from offshore companies on Wednesday, reflecting weakened market conditions driven by the plunge in oil prices. The Department of the Interior’s Bureau of Ocean Energy Management (BOEM) Lease Sale 46 was held Wednesday … [Read more...]
Western Gulf of Mexico Lease Sale Yields $102.4 Million in High Bids
The U.S. Department of the Interior’s Bureau of Ocean Energy Management (BOEM) on Wednesday held Western Gulf of Mexico Lease Sale 233, which offered up 20.7 million acres and attracted $102,351,712 in high bids for 53 tracts covering 301,006 acres on the U.S. Outer Continental Shelf (OCS) offshore Texas. A total of 12 offshore energy companies submitted 61 bids. Sale … [Read more...]