Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations
A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them.The U.S. Gulf of Mexico has faced waning interest in recent years as competition stepped up from other basins globally, as well as from onshore shale basins and Mexico's waters in the Gulf.Oil companies had lobbied for lower royalty payments for deepwater acreage because of the projects' high cost and long lead time before production can begin. In
GoM Lease Sale to yield greater focus : NOIA
NOIA President Randall Luthi today issued the following statement in advance of tomorrow’s Region-wide Gulf of Mexico Lease Sale 250: “The historic size of tomorrow’s Region-wide Gulf of Mexico lease sale, combined with improving market conditions and a shallow water incentive, may draw more interest from industry than we have seen in recent years. “Operators are global in nature and will bid where they believe they will get the most ‘bang for their buck’. The results of recent sales in the Mexican side of the Gulf of Mexico demonstrate that
BOEM Oil and Gas Lease Sale: 48m Acres
, foster economic opportunities, and reduce America’s dependence on foreign oil,” Hopper said. “The exploration and development of the Gulf of Mexico’s energy resources will continue to help power our nation and drive our economy.” BOEM will livestream Central Gulf of Mexico Lease Sale 247 on March 22, 2017. Livestreaming the sale enables BOEM to deliver pertinent bid information immediately to a much broader national and international audience. The livestream broadcast will begin at 9 a.m. CST via the BOEM website at www.boem.gov. The twelfth and final Gulf
Tomorrow’s Gulf Lease Sales Important Even Today - NOIA
NOIA President Randall Luthi today issued the following statement in advance of tomorrow’s Central and Eastern Gulf of Mexico Oil and Gas Lease Sales: “Historically, Central and Eastern Gulf of Mexico lease sales have drawn strong interest from industry; however, a combination of factors – continued low commodity prices, increased Federal regulation, and the Administration’s clear lack of support for domestic fossil fuel production – could result in rather small sales tomorrow, continuing the downward trend witnessed over the past few years. In this tough
US to Open Bids for Gulf of Mexico Lease Sale
The U.S. Bureau of Ocean Energy Management (BOEM) said it is set to conduct a Gulf of Mexico Western Planning Area Lease Sale 246 on Wednesday, August 19 at the Mercedes-Benz Superdome in New Orleans. Doors open at 7:30 and bid reading begins at 9 a.m. CDT. As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, Lease Sale 246 is the eighth offshore sale under the Administration’s Outer Continental Shelf Oil and Gas Leasing Program for 2012-2017 (Five Year Program). The first seven sales in the Five
GoM Sale Yields $110m in High Bids
As part of President Obama’s all-of-the-above energy strategy to continue to expand safe and responsible domestic energy production, today’s Western Gulf of Mexico Lease Sale 238 attracted $109,951,644 million in high bids for 81 tracts covering 433,823 acres on the U.S. Outer Continental Shelf offshore Texas. A total of 14 offshore energy companies submitted 93 bids. “This sale underscores the President’s commitment to create jobs and home-grown energy through the safe and responsible exploration and development of offshore energy resources,” said Interior Deputy
BOEM to Open Bids for Gulf of Mexico Lease Sale
The Bureau of Ocean Energy Management (BOEM) Gulf of Mexico Regional Director John Rodi will open the Gulf of Mexico Western Planning Area Lease Sale 238 at 9 a.m. CDT on Wednesday, August 20, 2014 at the Mercedes-Benz Superdome in New Orleans. The sale, which offers more than 21 million acres for oil and gas exploration and development offshore Texas, is open to the public and news media representatives are invited to attend. Following the bid reading, a news media teleconference to announce the results of the sale will be conducted by BOEM Gulf of Mexico Deputy Regional Director Michael Celata.
BP's Commitment to GofM Confirmed: New Oil Discovered
Morrison, Regional President of BP’s Gulf of Mexico business. BP owns a majority interest in the Gila discovery which is located approximately 25 miles west of Tiber, also located in the Keathley Canyon area. The lease for Keathley Canyon Block 93 was acquired in the Western Gulf of Mexico Lease OCS Sale 187 in 2003. The company adds that it and its heritage companies have been at work in the Gulf of Mexico since the 1950s, and they have been exploring in the deepwater Gulf of Mexico for more than a quarter of a century.
BOEM Proposes Eastern Gulf of Mexico Lease Sale
information available. In October, BOEM published a Final Environmental Impact Statement (EIS) for proposed Eastern Planning Area Sales 225 and 226. The Final EIS updated information gathered in three previous EIS’s. EPA Sale 226, scheduled for 2016, is the only other Eastern Gulf of Mexico lease sale proposed under the current Five Year Program. The proposed terms of this sale include conditions to ensure both orderly resource development and protection of the human, marine and coastal environments. These include stipulations to protect biologically sensitive resources, mitigate
February 2025
