Low Prices Spark Interest in Latest U.S. Gulf Lease Sale

By Nichola Groom March 20 (Reuters) - The Trump administration's fourth major auction for oil and gas leases in the U.S. Gulf of Mexico received $244 million in high bids on Wednesday, reflecting an uptick in interest from drillers attracted to the region's low prices. Of the 78.5 million acres (31.77 million hectares) offered, companies submitted bids on 1.26 million acres, … [Read more...]

Trump Administration Proposes Largest Oil and Gas Lease Sale in U.S. History

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...]

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...]