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...]
38 Million Central Gulf Acres To Be Auctioned Off
Secretary of the Interior Ken Salazar and Bureau of Ocean Energy Management (BOEM) Director Tommy P. Beaudreau announced Monday that 38 million unleased acres in the Central Gulf of Mexico will be auctioned off for oil and gas exploration and development in the United States' latest lease sale. The sale builds on two major Gulf of Mexico lease sales in the last year – … [Read more...]
U.S. Finalizes Five Year Oil and Gas Leasing Plan
WASHINGTON--The U.S. Interior Department Thursday finalized plans to lease new tracts in the Gulf of Mexico and off the Alaska coast for offshore oil and natural-gas exploration in a move that fell short of industry hopes but also irked environmentalists. The five-year plan, which generally follows a proposal made late last year, outlines the government's lease objectives … [Read more...]
Back in Business: First Central GoM Lease Sale Since Deepwater Horizon Raises Record Figure
HOUSTON--U.S. Interior Secretary Ken Salazar said Wednesday that the first lease sale in the central U.S. Gulf of Mexico since the Deepwater Horizon oil spill drew $1.7 billion in winning bids from energy companies. The central area of the Gulf is considered the most promising by the oil and gas industry, and has yielded a huge bounty of oil in the past two decades. It is … [Read more...]